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Briefing

Briefing

The latest published updates from across the beauty industry.

Yatsen Global's second-quarter revenue grew by 5.1%, with strong skincare performance offset by a decline in color cosmetics that weighed on profits

Yatsen Global (NYSE: YSG) announced its financial results for the second quarter of 2026, with total net revenue increasing from RMB 10.9 hundred million yuan in the same period last year to 11.4 hundred million yuan, a year-on-year increase of 5.1%. Skincare brand revenue grew by 40.4% year on year, accounting for 71.5% of total net revenue and becoming the main growth engine; while color cosmetics brand revenue declined by 35.8% year on year, which the company attributed to proactive optimization of its brand portfolio and streamlining of SKUs. Founder, Chairman and CEO Huang Jinfeng stated that the shift toward skincare reflects a strategic transformation toward "higher quality, more sustainable growth." The gross margin for the quarter decreased from 78.3% to 73.9%, mainly due to higher inventory write-down provisions in the color cosmetics business; excluding one-off impacts, the underlying gross margin remained broadly stable year on year. Total operating expenses increased by 7.7% year on year to 9.757 hundred million yuan, and the sales and marketing expense ratio rose from 66.5% to 70.7%, primarily due to investments in brand building for core skincare brands and rising traffic acquisition costs on the Douyin platform. The company continued to invest in research and development, with the R&D expense ratio maintained at 3.3%. In terms of products, Galénic launched a new eye cream, DR.WU introduced three functional masks, and Eve Lom expanded its moisturizing line. Management stated during the conference call that despite fierce competition in China's beauty industry, the strategic transformation continues to make progress.

Wella Company files for U.S. IPO, with annual revenue reaching 29.4 hundred million U.S. dollars

KKR-backed Wella Company has filed for an initial public offering in the United States, after returning to profitability and increasing its annual revenue to 29.4 hundred million U.S. dollars. For the fiscal year ended 30 day of 6 month, 2026, Wella achieved a net profit of 270 ten thousand U.S. dollars and revenue of 29.4 hundred million U.S. dollars, compared with a loss of 4460 ten thousand U.S. dollars and revenue of 26.9 hundred million U.S. dollars in the same period of the previous year. The beauty group owns hair care and nail care brands such as Wella, Clairol, and OPI, as well as professional hair care tools and accessories. Proceeds from the IPO are expected to be used in part to repay debt and pay restructuring-related taxes and fees. Wella plans to list on the New York Stock Exchange under the ticker symbol WELA. This IPO will bring one of the largest hair and nail care companies in the global professional beauty industry back to the public market, while providing KKR with a potential avenue to monetize its investment, following KKR's acquisition of Wella from Coty Inc.

Skyline Beauty Group acquires Lumin and Meridian brands under Pangaea Holdings

Skyline Beauty Group announced the acquisition of men's skincare brand Lumin and grooming brand Meridian from Pangaea Holdings, with the transaction disclosed on 2026 year 9 month 3 day. This acquisition is a significant step for Skyline Beauty Group to rapidly build its portfolio of beauty and personal care brands, aiming to expand its market share in the men's grooming and premium grooming sectors. Lumin and Meridian were previously operated by Pangaea Holdings and have performed strongly in direct-to-consumer (DTC) channels, boasting a stable user base and brand recognition. Following the completion of the transaction, Skyline Beauty Group will integrate the operations, supply chain, and digital marketing resources of both brands to further strengthen its global beauty matrix. Industry analysts believe that this merger and acquisition reflects the ongoing consolidation trend in the beauty industry, where mid-sized brand groups accelerate scale expansion and category diversification by acquiring leading DTC brands in niche segments. Currently, neither party has disclosed the specific transaction amount or subsequent management arrangements.

Silicon2 recorded sales of 7492 hundred million won in the first half, with 94% coming from corporate clients.

South Korean beauty distributor Silicon2 has achieved rapid growth by leveraging the global spread of K-beauty, with its B2B corporate client business as the core. According to the company's disclosure on 8 month 20 day, sales in the first half of 2026 amounted to 7492 hundred million won, and operating profit was 1475 hundred million won, representing year-on-year increases of 46.6% and 47.6%, respectively. Among these, the CA business for corporate clients accounted for 94% of total sales, with sales in overseas markets such as the United States and Europe increasing significantly. Silicon2 is expanding its business scope from K-beauty to areas such as food and clothing, based on its existing distribution network, to further consolidate its position in global wholesale distribution.

Wipro Consumer Care acquires Dermatouch, entering the digital-first premium skincare market

Wipro Consumer Care and Lighting has agreed to acquire a 60% stake in Dermatouch for 38.8 hundred million rupees (approximately 4400 ten thousand US dollars), marking its entry into India's rapidly growing digital-first premium skincare sector. Dermatouch is a science-oriented, direct-to-consumer skincare brand with a product portfolio targeting specific skin concerns. This acquisition enables Wipro Consumer Care to access digital-native beauty businesses and expand its influence in the premium skincare segment. The transaction combines Dermatouch's DTC positioning and skincare expertise with Wipro's broader consumer goods capabilities and resources. This investment reflects the growing strategic value of digital-first skincare brands in India, as science-oriented positioning and targeted solutions gain traction. For Wipro Consumer Care, Dermatouch provides a pathway into the premium skincare category, while adding a DTC model complementary to its existing consumer brands, and may serve as a platform for further growth in the beauty business.

PROYA partners with Ulta Beauty to enter the high-end skincare market in the United States

Chinese beauty brand PROYA announced a partnership with US retailer Ulta Beauty, and will officially enter Ulta Beauty's high-end skincare product line in 2026 year 11 month, marking an important step in the internationalization strategy of its parent company, Proya Cosmetics Co., Ltd. PROYA will launch its core firming series and repair series, positioned as science-driven and highly effective skincare, emphasizing proprietary technology, ingredient research, and clinical testing, with a focus on skin barrier health. This collaboration not only provides PROYA with an important platform in the highly competitive high-end skincare market in the United States, but also reflects the trend of Chinese beauty companies going global by leveraging R&D, efficacy, and proprietary technology.

The Estée Lauder Companies' fiscal year 2026 sales grew by 5%, returning to a growth trajectory

The Estée Lauder Companies (ELC) announced its fiscal year 2026 results, reporting a 5% increase in net sales to $150.5 hundred million, with organic sales growing by 3%, marking the company's return to a growth trajectory. Growth accelerated in the fourth quarter, with reported sales up 6% and organic sales up 5%. Full-year gross margin expanded by 150 basis points to 75.5%, and adjusted operating margin expanded by 320 basis points to 11.2%. Adjusted operating profit increased by 47% to $16.9 hundred million, and adjusted diluted earnings per share rose by 66% to $2.51. Free cash flow was $13.2 hundred million, nearly double the previous year's $6.7 hundred million. Growth was primarily driven by the fragrance business, with organic sales up 10%, including double-digit growth for luxury brands such as Le Labo, TOM FORD, and KILIAN PARIS. The skincare business grew by 4%, led by La Mer, The Ordinary, and the Estée Lauder brand; the makeup business was essentially flat, while the hair care business declined by 1%. The company also expanded its consumer reach, extending its Amazon business to 13 brands across 11 markets, and TikTok Shop to 12 brands across 9 markets. It opened 33 new standalone fragrance stores and launched the M·A·C brand in select Sephora stores in the United States, online, and at Sephora inside Kohl's. Innovative products accounted for 23% of fiscal year 2026 sales. The results indicate that the company's "Beauty Reimagined" strategy and Profit Recovery and Growth Plan (PRGP) are beginning to translate into stronger sales and margins. The company expects the PRGP restructuring plan to generate approximately $12 hundred million in total annual benefits and to reduce headcount by approximately 10,000 positions. For fiscal year 2027, the company expects organic sales growth of 3% to 5%, and will adjust its operating margin...

Haut.AI and Grupo Boticário are rolling out AI skin analysis to nearly 4000 O Boticário stores

Haut.AI and Grupo Boticário announced the expansion of their partnership from a pilot in 24 stores to a nationwide deployment across approximately 4000 O Boticário stores in Brazil, becoming one of the largest in-store AI beauty applications globally. The collaboration began in 2023, with GB Ventures, the venture capital arm of Grupo Boticário, participating in Haut.AI's seed funding round, followed by a product testing phase. The Meu Botik system leverages AI skin analysis to assess more than 150 facial biometric indicators in approximately 80 seconds, providing personalized recommendations to beauty advisors and running directly on existing mobile devices without the need for additional hardware. The technology is trained on over 300 ten thousand clinical images and anonymizes consumer images through Haut.AI's patented Skin Atlas technology. This expansion marks the large-scale implementation of AI skin analysis from digital environments to physical retail, serving as a model for the industry.

Former Procter & Gamble Beauty CEO Alex Keith Appointed to Diageo Board of Directors

Diageo announced the appointment of former Procter & Gamble Beauty Chief Executive Officer R. Alexandra “Alex” Keith as a non-executive director, effective 2026 year 11 month 5 day, subject to shareholder approval. Keith has more than 35 years of experience in the international consumer goods industry, most recently serving as Chief Executive Officer of Procter & Gamble’s beauty business, where she was responsible for a large global product portfolio and drove growth through innovation, acquisitions, portfolio development, and organizational transformation. Her experience spans brand building, general management, supply chain, and consumer goods sectors in North America, Europe, and Asia. Since 2020, Keith has also served as a non-executive director at Thermo Fisher Scientific. Upon shareholder approval, she will join Diageo’s Remuneration Committee and Nomination Committee. This appointment brings significant expertise in beauty and consumer brands to the Diageo board, at a time when the company is committed to enhancing competitiveness and business transformation. Keith’s experience in managing and reshaping Procter & Gamble’s global beauty portfolio is expected to provide valuable insights for addressing evolving consumer trends, accelerating innovation, and building premium global brands.

River Associates acquires personal care manufacturer Diamond Wipes

Private equity firm River Associates has acquired Diamond Wipes, a North American contract manufacturer of wet wipes and liquid-filled personal care products. Diamond Wipes provides end-to-end contract manufacturing services, ranging from product development, R&D formulation, manufacturing, filling, and packaging to quality testing and distribution. With facilities in California and Wisconsin, it serves brands, retailers, and distributors in the cosmetics, personal care, and other consumer goods categories. Previously held by Nolan Capital, Diamond Wipes will serve as a platform for further expansion under River Associates. The two parties plan to pursue organic investments and strategic add-on acquisitions, with potential targets including manufacturers of wet wipes, liquids, and other personal care products, as well as companies that can add new products, geographic reach, or manufacturing capabilities. Financial terms of the transaction were not disclosed. This acquisition gives River Associates a platform in the beauty and personal care contract manufacturing market, with the opportunity to expand Diamond Wipes’ capabilities and scale through further mergers and acquisitions. For cosmetics brands, the deal also highlights private equity’s continued interest in manufacturers that offer outsourced formulation, production, and packaging capabilities.

CVC Capital invests 3000 hundred million won in South Korean beauty distributor Silicon2

CVC Capital Partners announced an investment of 3000 hundred million won in South Korean beauty distributor Silicon2 to support the expansion of its international logistics and distribution network. Under the agreement, CVC will acquire 667 ten thousand newly issued redeemable convertible preferred shares of Silicon2 through the special purpose vehicle Starlink Investment at a price of 45,000 won per share, resulting in a stake of approximately 9.23%. Silicon2 is a distribution platform focused on independent South Korean beauty brands, offering one-stop services including procurement, logistics, inventory management, and marketing to help small and medium-sized brands expand into overseas markets. The company's revenue reached 7492 hundred million won in the first half of this year, with the European market contributing 2493 hundred million won, and revenue from the US market growing from 805 hundred million won in the same period last year to 1350 hundred million won. Silicon2 plans to use this investment and CVC's global network to strengthen infrastructure in Europe, the United States, the Middle East, and Asia, and to further expand into Latin American and Southeast Asian markets. This investment reflects rising institutional capital interest in K-beauty export infrastructure, rather than merely betting on individual brands. Leveraging CVC's capital and consumer sector expertise, Silicon2 is expected to enhance its distribution and logistics capabilities, helping more independent South Korean beauty brands enter the global market.

Ulta Beauty appoints PacSun CEO Brieane Olson as a member of the board of directors

Ulta Beauty announced the appointment of PacSun CEO Brieane Olson as a member of the board of directors, effective from 2026 year 8 month 31 day. Olson has more than twenty years of experience in the specialty retail sector, covering strategic planning, brand building, omnichannel commerce, merchandising, and organizational leadership. She has served as CEO of PacSun since 2023, having previously held positions at the company including president, chief brand officer, and chief merchandising officer. Ulta Beauty stated that Olson's experience in leading consumer retail businesses to achieve growth and transformation will support the execution of the company's "Ulta Beauty Unleashed" strategy. Olson will succeed Kelly G. Garcia on the board; Garcia stepped down from her director role due to her transition to the position of Chief Technology Officer at Ulta Beauty, and the number of board members will remain at 10. This appointment aims to strengthen Ulta Beauty's expertise in specialty retail, omnichannel development, merchandising, and brand building, in order to address increasingly fierce competition in beauty retail and better attract younger consumers.

DSM-Firmenich proposes Richard Ridinger to succeed as Chairman, with Thomas Leysen retiring

The DSM-Firmenich Board of Directors has unanimously proposed independent director Richard Ridinger to serve as the next Chairman, succeeding Thomas Leysen, who has decided to retire. Leysen decided to retire after completing the DSM-Firmenich merger and establishing the group's strategic direction. Ridinger's appointment will be submitted for shareholder approval at the extraordinary general meeting on 2026 10 19. He possesses executive and board experience in the pharmaceuticals, home and personal care, and nutrition and health sectors, and is familiar with DSM-Firmenich as an independent director. Leysen will step down after his successor is elected; he previously led the company through its formation and integration. This leadership transition occurs as DSM-Firmenich emerges from the post-merger integration phase, with the sale of its Animal Nutrition & Health business nearing completion, the Executive Committee updated, and margin improvement initiatives underway. This proposal marks DSM-Firmenich's shift from integration to execution. Ridinger's experience in innovation-driven businesses, including personal care, and his familiarity with the group are intended to provide continuity for DSM-Firmenich as it focuses on strategic execution, enhances margins, and drives the next stage of growth.

K-beauty expands its overseas retail footprint: Beauty of Joseon and Amorepacific enter the Australian and Indian markets

South Korean beauty brands are accelerating their diversified layout in global markets. According to The Korea Economic Daily, emerging brand Beauty of Joseon and established company Amorepacific have recently entered the Australian and Indian markets respectively, expanding retail channels through local supermarkets and online platforms. This move reflects the further penetration of K-beauty beyond traditional markets in Europe, the United States, and Asia, aiming to seize growth opportunities in emerging markets. Industry analysts believe that as global demand for K-beauty continues to rise, South Korean cosmetics exports are expected to hit new highs. This channel expansion will enhance the international visibility of brands and may drive more K-beauty companies to follow suit, intensifying competition in overseas markets.

Latest Beauty Executive Changes at Ulta Beauty, Kosas, and Other Companies

The beauty industry has recently seen a series of executive personnel changes. Ulta Beauty has appointed Kelly Garcia as Chief Technology Officer, effective from 8 month 31 day. Garcia has served as Executive Vice President and Chief Technology Officer at Domino's Pizza since 2012, and has been a member of the Ulta board of directors since 2022; she will resign from her board position upon assuming the new role. The Estée Lauder Companies has appointed Madeleine Boyd as Senior Vice President of Global Brand Communications; she previously served as Senior Vice President of Beauty and Health at Together Group in the United Kingdom, and will lead the global brand communications team and strengthen creator engagement. In addition, Leigh Winters Silberstein has joined ILabs as Vice President of Product Development and Marketing; she previously worked at Mana Products. Pressed Juicery has appointed Tina Reejsinghani as Chief Marketing Officer; she previously held senior positions at companies such as Reed's and Pernod Ricard. Kosas has appointed Shannon Henschel as Vice President of Global Brand; she previously served as Director of Brand Marketing at Versed. M.pH Beauty has appointed Kira Jackson as Chief Marketing Officer; she previously served as Chief Brand Officer at Set Active. These changes reflect the beauty industry's ongoing talent deployment in the areas of technology, brand communications, and marketing.

Oriflame appoints former L'Oréal executive Kenneth Benaim Campbell as Chief Executive Officer

Swedish-founded cosmetics company Oriflame announced the appointment of Kenneth Benaim Campbell as Chief Executive Officer, succeeding Anna Malmhake, who stepped down after three years in the role. Campbell has 27 years of senior leadership experience at L'Oréal, where he was responsible for operations in Europe, Asia, and Latin America, and most recently served as President of Lipton Tea & Beverages for Europe and North America. Oriflame stated that Campbell is known for his exceptional people leadership, international experience, consumer orientation, and track record of driving growth and transformation. He will be responsible for strengthening the business, supporting beauty entrepreneurs, accelerating transformation, and achieving sustainable long-term growth. Campbell said he was attracted by Oriflame's unique entrepreneurial model, beauty heritage, and global community of entrepreneurs. Board Chair Robert Bensoussan described him as an "outstanding international leader" with deep industry expertise and a strong record in brand building, talent development, and performance delivery. This appointment comes as Oriflame approaches its 60 anniversary, with the company focusing on business strengthening and transformation. During her tenure, Anna Malmhake successfully completed refinancing and made significant progress in business strengthening and transformation.

L'Oréal and the Yong Loo Lin School of Medicine at the National University of Singapore have entered into a multi-year strategic collaboration, focusing on longevity science and research on skin health and aging.

The L'Oréal Group and the Healthy Longevity Institute at the Yong Loo Lin School of Medicine, National University of Singapore, have established a multi-year strategic research partnership aimed at advancing longevity science and studying the role of skin in healthy aging. This collaboration will combine L'Oréal's expertise in skin and hair science with the National University of Singapore Faculty of Medicine's knowledge in gerontology and healthy longevity medicine, leveraging longevity research and clinical trials to uncover new insights into how skin contributes to "enhancing quality of life from the outside in." The research findings will be integrated into L'Oréal's "Integrated Longevity Science" framework, providing a basis for developing evidence-based long-term health interventions for skin, scalp, and hair. Dr. Angeline Tay, Head of Advanced Research at the L'Oréal Singapore Research & Innovation Center, stated that if skin signs can serve as meaningful indicators of whole-body aging, then skin measurements would not only reflect appearance but could also become early signals of internal bodily changes; this hypothesis warrants years of rigorous evidence-based research and is central to L'Oréal's commitment to shifting aging science toward prevention. As part of the collaboration, both parties will establish a joint laboratory focused on studying how skin, scalp, and hair reveal information about bodily aging, directly linking skin data with health indicators from systems such as cardiovascular, metabolic, cognitive, and musculoskeletal. Professor Andrea Maier, Founding Dean of the Healthy Longevity Institute at the National University of Singapore Faculty of Medicine, pointed out that skin is an underutilized window in the biology of aging, and this collaboration will integrate advanced skin assessments into clinical trials, combining them with biomarkers of biological aging across multiple organ systems, thereby deepening the understanding of how skin reflects and promotes healthy aging. This partnership is expected to drive scientific innovation in the beauty industry in the fields of anti-aging and healthy aging, laying the foundation for personalized skincare solutions and next-generation product development.

British niche perfume brand Vyrao is reportedly on the verge of completing its sale

According to fashion business media BoF, citing sources familiar with the matter, British niche perfume brand Vyrao, founded by Yasmin Sewell in 2021, is close to finalizing a sale. Existing investor Manzanita and Waldencast, the parent company of Milk Makeup, are reportedly in discussions regarding the transaction. Vyrao is known for its unisex perfumes containing Herkimer diamond crystals, claiming to help clear chakras and promote the flow of spiritual energy; its signature products include Witchy Woo, launched in 2021. The brand previously received investment in 2023 from NIV, the new incubation investment arm under the Estée Lauder Companies, to strengthen marketing and support retail partners in the United States, Australia, and Japan. Vyrao initially debuted at Selfridges in the United Kingdom and has since expanded to channels such as Saks Fifth Avenue, Liberty London, Browns, and Mecca. If the sale is completed, it may affect the brand's independent development path and existing channel layout, with the industry paying attention to the trend of consolidation in niche perfume assets.

Kolmar Korea's operating profit in the second quarter reached 1103 hundred million Korean won, setting a new historical high.

Kolmar Korea recently announced its financial results for the second quarter of 2026, achieving sales of 8613 hundred million Korean won and an operating profit of 1103 hundred million Korean won, representing year-on-year increases of 50.2% and 68.9% respectively, with operating profit hitting a record high. The company stated that the significant growth in performance was mainly driven by the overall expansion of the K-beauty industry, the accelerated overseas deployment of independent brands, and the entry of sunscreen products into their seasonal peak. Cumulative sales and profits in the first half of the year also saw substantial growth, reflecting strong global demand for Korean beauty products and manufacturing services. As a leading cosmetic ODM enterprise in South Korea, Kolmar's surge in performance further confirms the core position of K-beauty in the global industrial chain and has injected confidence into upstream supply chains and downstream brand owners.

QVC completes Chapter 11 restructuring and emerges from bankruptcy after reducing debt by $50 billion.

QVC Group announced that it has completed Chapter 11 bankruptcy restructuring, reducing its debt by approximately $50 billion, providing greater financial flexibility for the retailer's transition to streaming, social commerce, and digital retail. Under the restructuring plan, QVC issued $13 billion in new debt to creditors and obtained a $6 billion asset-backed credit facility from investors such as Strategic Value Partners and Oaktree Capital. The company's common stock has been approved for resumed trading on Nasdaq under the ticker symbol QVCG, with the specific date yet to be announced. QVC filed for bankruptcy in April of this year (4), when its liabilities amounted to approximately $66 billion, mainly affected by declining viewership and user churn in the traditional television shopping model. Although preferred shareholders objected and their shares were ultimately wiped out, the restructuring plan was still approved by the court. This debt reduction enables QVC to accelerate investment in content-driven e-commerce channels, which is increasingly important for beauty brands seeking to reach consumers through content.