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Aramis Special Blend Event
Aramis Special Blend, a fragrance by Estée Lauder (David M. Benett/Getty Images)
Woe de toilette

Spiking oil prices have investors turning up their noses at fragrance stocks

Estée Lauder and International Flavors & Fragrances are among the worst-performing stocks since the kinetic conflict in the Middle East started.

Luke Kawa

Among the stocks that have stunk to high heaven since the US-Israeli strikes on Iran:

Estée Lauder and International Flavors & Fragrances.

“Fragrance companies and chemicals names are heavily exposed via large purchases of petroleum product inputs for their businesses,” wrote Bespoke Investment Group, noting that these companies are among the 37 Russell 1000 stocks that have dropped 15% or more since February 27.

Perfume is composed in part by another P-word: petrochemicals. Of course, higher prices at the pump might also dent consumers’ willingness to pay up for a good musk. International Flavors & Fragrances, meanwhile, has a broader smell and taste business that’s effectively upstream of the likes of Estée Lauder.

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