The U.S. is in a recession, housing prices in Europe are slumping and stock markets in emerging markets are getting battered. And that’s all good news for cosmetics companies. Yup, more than a decade ago, Estée Lauder Chairman Leonard Lauder noticed a link between economic downturns and upticks in lipstick sales as consumers turn their noses at big-ticket items in favor of more economical indulgences like fine fragrances and color cosmetics. While history seems to be on the industry side, ...