Published on 28 Jun 2021 on Insider Monkey via Yahoo Finance
10 Best Beauty Stocks to Invest In
In this article we will take a look at the 10 best beauty stocks to invest in. You can skip our detailed analysis of these stocks, and go directly to the 5 Best Beauty Stocks to Invest In.
The cosmetics industry encompasses companies that manufacture, sell, and market beauty products like makeup, shampoos, lotions, fragrances, creams, etc. It is undoubtedly one of the fastest-growing industries in the world, generating over $500 billion in sales in 2020. This has certainly made the cosmetic stocks gain value and grab the attention of investors around the globe.
The dawn of 2020 brought uncertainties in every aspect of life and the cosmetic industry is no exception. According to National Purchase Diary NPD, during the first half of 2020, the sales of makeup products, especially lipsticks, declined by 24% due to the constant use of facemasks. Major cosmetic companies like Coty Inc. (NYSE: COTY) saw their share price decline by 52% in March. Similarly, the stock price of Ulta Beauty, Inc. (NASDAQ: ULTA) also declined by 29% in the initial days of the pandemic. Though these stocks are already back on their feet, Vogue Business predicts that color cosmetic sales are expected to decline at an average rate of 2% this year.