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It appears the Chinese beauty market has entered a period of structural recovery, moving beyond the volatility of previous years driven by consumer’s new priorities and category diversification. According to KPMG, beauty retail sales grew by 5.1% in 2025 a rebound from a -1.1% decrease in 2024.
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Listed beauty groups averaged 4.2% weighted like-for-like growth in Q1 26, but this masks a real divide. Half the peer group grew meaningfully while the other half was flat or in decline. I reckon that the differences partially come down to three variables: category mix, China exposure, and proximity to the Middle East conflict.
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Givaudan, DSM-Firmenich, IFF and Symrise together posted a weighted average organic growth of 4.2% in their fragrance and beauty divisions in Q1 26 a solid result in a quarter marked by Middle East disruption, supply chain uncertainty and tough prior-year comparables.
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This week in beauty, we won’t see a mega Puig x Estée Lauder deal happening while Nykaa continues its impressive growth trajectory.
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Jean Paul Gaultier launched this week Les Ateliers Gaultier, a six-scent high perfumery collection priced at €260 for 100ml, its first serious move into the upper tier of the fragrance market.
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Nykaa reported FY26 net revenue of €900m (Rs 10,022 crore), up 26% year-on-year but more notable than the topline is what happened below it: EBITDA grew 59% to €67.6m (Rs 752 crore), with margin expanded 155 basis points to 7.5% the highest in the company’s history. Profit after taxes grew 183% to €18.3m (Rs 204…
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e.l.f. closed FY26 with sales of $1.64bn up 25% and with its 29th consecutive quarter of growth, a streak shared by only five other public consumer companies globally.
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Circana’s Q1 2026 US beauty report has one number that stopped me: mass and prestige grew nearly the same rate. Prestige was up 6% to $8.1 billion while mass was up 7% to $18.1 billion. This reflects consumers who have stopped being loyal to a channel and started being strategic about where they spend across…
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Last week in beauty, Shiseido sales are down 3% but profit is surging.
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According to Charm.io, which tracks performance metrics for every DTC brand online and on TikTok Shop, the platform generated $10.2 billion in global beauty sales in 2025, up from essentially nothing when it launched at the end of 2022.