Reported 1 day ago
Michael Burry's Scion Asset Management has doubled its investment in Estee Lauder to 200,000 shares valued at $13.2 million, amid the company's efforts to revitalize its brand under new CEO Stephane de La Faverie. Estee Lauder seeks to address weak demand in key markets like North America and China through new product launches and luxury pricing strategies. Despite a challenging market, Burry's increased stake signals confidence in the brand's potential to regain its competitive edge.
Source: YAHOO