Cosmetic companies like Estee Lauder and L’Oreal are seeing a boom in their business in the Asia-Pacific region, mainly in China, as affluent millennials spend more at beauty retailers and duty-free stores at airports. Shares of Estee Lauder, which reported better-than-expected fourth-quarter results, rose as much as 11% to $198.62. The efforts helped sales in the Asia-Pacific region grow 18% in the fourth quarter, while sales in the skincare business, its biggest and most profitable, rose 15% to $1.59 billion, boosted by demand for its premium skincare brands such as La Mer and Clinique.

source https://finance.yahoo.com/news/estee-lauder-sees-no-slowdown-160218755.html?.tsrc=rss