Estee-Lauder has a huge reliance on Department Store sales. Department Stores are declining as more consumers buy in other ways.
The Lauder family exercises effective control over the company. There can be no thought of dissent from other shareholders. Eventually one of the rich lucky sperms will make a fatal mistake and destroy the franchise.
There is some Venezuela exposure which is causing short term heart burn. That is the flip side of international diversification. Some of the pieces will just rot out on you before you know it.
George Gutowski writes from a caveat emptor perspective.