Estée Lauder has lost $100 billion in value in the past three years. How a big bet on China dragged down a luxury legend.

The article focuses on Estée Lauder's ongoing struggles as it prepares to report its quarterly earnings amid significant financial challenges. The company, known for its luxury beauty brands such as MAC and Clinique, has faced a steep decline in revenue and profits, particularly due to a prolonged downturn in its China sales and failure to adapt to changing consumer preferences among younger shoppers. Following a series of leadership changes, including the appointment of a new CEO, Stéphane de La Faverie, the company aims to address its declining market share and revitalize its brand strategy to regain competitiveness in the luxury beauty sector. Analysts express skepticism about the company's recovery prospects, given its recent history and the challenges it faces in a rapidly evolving market. [Extracted from the article]