Piper Sandler on Wednesday said it sees considerable upside for Club holding Estee Lauder as China's long-awaited economic reopening drives pent-up demand for luxury goods — a view that's central to our investment case in the beauty brand. The Chinese market is a "vastly underappreciated opportunity" for Estee Lauder, analysts at Piper Sandler wrote in a research note.
An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.
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