Last week in beauty both Ulta and Macy’s beat Wall Street expectations
ULTA BEAUTY Q1 26 SALES UP 11.1% TO $3.2 BILLION
Ulta Beauty beat Wall Street expectations with first-quarter net sales of $3.2 billion, up 11.1%, driven by broad-based growth across channels and categories, with fragrance delivering high-teen comp growth. The retailer also announced plans for a new Times Square flagship store expected to open in late 2027, featuring immersive guest experiences and brand activations.
MACY’S Q1 SALES RISE 1.8% TO $4.7BN, WITH BLUEMERCURY UP 6.4%
Macy’s, Inc. reported first-quarter 2026 net sales of $4.7 billion, up 1.8%, with comparable sales growth of 3.0% driven by increases across all nameplates, including beauty retailer Bluemercury’s 6.4% comparable sales gain. The company raised its full-year outlook, now expecting net sales of $21.5–21.75 billion and adjusted diluted EPS of $2.00–$2.20.
LAUDER CEO SAYS PUIG DEAL FAILED OVER PRICE
Estée Lauder CEO Stéphane de La Faverie said the failed merger with Puig came down to price, stating that any deal must be accretive from growth and profitability standpoints and create shareholder value. He affirmed that Lauder already has a strong portfolio of brands and does not need a transformational deal, but remains open to M&A at the right price as the company’s internal transformation nears completion.
IFF SELLS FOOD INGREDIENTS BUSINESS TO CVC FOR $4.3 BILLION
IFF has agreed to sell its Food Ingredients business to CVC Capital Partners for approximately $4.3 billion, retaining a 10% minority stake, as part of a portfolio transformation to focus on its Taste, Scent, and Health & Biosciences divisions. The divested unit generated nearly $3.1 billion in sales in 2025, and the net proceeds will be used to reduce debt, fund share repurchases and invest in higher-growth areas.
WALDENCAST SELLS OBAGI MEDICAL TO BRIDGEPOINT FOR UP TO $460 MILLION
Waldencast has agreed to sell its dermatological skincare and aesthetics business Obagi Medical to private equity firm Bridgepoint in a deal valued at up to $460 million, as part of a strategic shift to simplify its portfolio and focus on Milk Makeup. Following the transaction, Waldencast founders and selected management will leave to lead Obagi alongside Bridgepoint, while proceeds will repay debt and support Milk Makeup’s global growth.
GIVAUDAN ACQUIRES MAJORITY STAKE IN EUROFRAGANCE
Givaudan has signed an agreement to acquire a majority stake in Eurofragance, a Barcelona-based independent fragrance creation house specializing in fine perfumery and household products, with pro forma sales of approximately 185 million Swiss francs in 2025. The strategic alliance strengthens Givaudan’s presence in high-growth regional markets, combining Eurofragance’s agility and local expertise with Givaudan’s global reach.
OLIX PHARMACEUTICALS SECURES €61M FROM L’ORÉAL VENTURE FUND
South Korean biotech OliX Pharmaceuticals has raised approximately €61m (KRW110bn) through a strategic investment from BOLD, L’Oréal’s corporate venture capital fund, and Weiss Asset Management to advance its RNA interference therapeutic pipeline for skin and hair applications. The funding strengthens OliX’s existing partnership with L’Oréal, combining its siRNA platform with L’Oréal’s formulation expertise to accelerate next-generation beauty and wellness solutions.
10BEAUTY RAISES $23.5M FOR ROBOTIC MANICURE MACHINES
10Beauty has secured $23.5m in new funding led by Story Ventures to expand its automated nail care technology across retail, hospitality and wellness channels, with its five-step robotic manicure machine already launched at an Ulta Beauty location in Boston. The company has agreements for 850 machines across partners including Ulta Beauty and Nordstrom, with plans to deploy further in Chicago and other sectors.
HAIRCARE BRAND FILAMENT SCIENCES RAISES $2M SEED ROUND
Hair care brand Filament Sciences has raised a $2 million seed round led by Wittington Ventures, with Willow as a secondary investor, to fuel inventory growth, expand its salon professional channel and invest in education-focused initiatives. The brand, which debuted in January with its Tensile Strength Hair Treatment Mask at Violet Grey, will use the funds primarily for working capital and team expansion rather than influencer campaigns.
KORINMI RAISES €900K TO EXPAND K-BEAUTY CLINICS IN INDIA
Korean beauty startup KorinMi has raised €900k (₹10 crore) from Lotus Herbals’ innovation fund to expand its K-beauty clinic network across India, currently operating three clinics in Gurugram. The funding will support expansion into Mumbai, Bengaluru and Hyderabad, while further developing Korean-made skincare products tailored to Indian consumers.
CALIFORNIA NATURALS CLOSES SERIES B, NAMES NEW CEO
Personal care brand California Naturals has closed a Series B funding round led by Align Ventures to expand retail presence and launch new categories, while appointing Hayden Hiatt as CEO as founder Shelby Wild transitions to chairwoman of the board. The brand, which counts Target, Ulta and CVS among its retailers, aims to bring affordable, natural personal care to more households.
UNILEVER OPENS FRAGRANCE INNOVATION HUB IN INDIA
Unilever has opened a new fragrance innovation hub in Mumbai, India, spanning 400 square metres and integrating AI, neuroscience and digital modelling to accelerate premium product development across beauty, personal care and home care categories. The facility is part of Unilever’s €100 million global programme to expand its digitally enabled fragrance network, enabling faster design and testing tailored to local consumer preferences.
OLIVE YOUNG’S U.S. DEBUT DRAWS 6,000 SHOPPERS
Olive Young’s first American store in Pasadena, California, drew an overnight line and 6,000 visitors over its opening weekend, with customers eager to access K-beauty brands like Mediheal, Anua and Rejuran. The South Korean retailer plans to open at least five more California locations by mid-2027, including a second Los Angeles store at Westfield Century City later this month.
RHODE EXPANDS INTO BRONZER WITH POCKET BRONZE COLLECTION
Hailey Bieber’s Rhode has launched Pocket Bronze, a collection of eight cream bronzer shades, alongside its first highlighter product Highlight Milk and limited-edition Peptide Lip Tint shades, marking the brand’s largest seasonal release to date. To support the launch, Rhode will tour the US and Europe with its Rhode Summer Station activation, offering consumers product discovery and exclusive merchandise.
SKINCEUTICALS BECOMES OFFICIAL SCUDERIA FERRARI SKINCARE PARTNER
SkinCeuticals has become the first skincare brand to partner with Scuderia Ferrari HP, aligning with the Formula 1 team’s values of performance, scientific excellence and innovation. The partnership will launch in Monaco this June with a skincare spa on Ferrari’s yacht and immersive pop-ups at global Grand Prix events, as SkinCeuticals, now a L’Oréal billionaire brand, seeks to expand its cultural presence in luxury and medical optimization.
THE BODY SHOP PARTNERS WITH LOOKFANTASTIC
The Body Shop has entered its first third-party retail partnership with Lookfantastic, expanding its online reach as part of the brand’s UK growth plan following its acquisition by Aurea. The collaboration will feature exclusive launches including the Aurora Shimmer Mist from the Glow Collection, alongside bestsellers like Shea Body Butter and Ginger Shampoo.
KENDALL JENNER GLOBAL AMBASSADOR FOR K-BEAUTY BRAND ANUA
K-beauty brand Anua has named Kendall Jenner as its first global ambassador, launching a multiyear campaign spotlighting the PDRN Collagen Glow Facial Serum Spray, a product Jenner has previously featured on her social media. The brand, which surpassed $500 million in global retail sales in 2025 and ranked as TikTok Shop U.S.’ top beauty brand by revenue in 2024, will host a “Dew on the Go” pop-up in New York on June 6 and 7 to celebrate the partnership.
LVMH APPOINTS SYLVIA TOURNERY TO LEAD SEPHORA COLLECTION
LVMH has named Sylvia Tournery, a former L’Oréal executive with nearly 20 years of beauty industry experience, as President of Sephora Collection to oversee the private-label brand’s next phase of growth. The appointment underscores Sephora’s ambition to strengthen its proprietary beauty offering, accelerate product innovation and increase global appeal of Sephora Collection.
KAO EXPANDS CURÉL TO THE NETHERLANDS
Kao has launched its sensitive skincare brand Curél in the Netherlands, available exclusively through Etos Derma stores nationwide, following previous expansions into the UK, Germany and France. The brand, which features proprietary biomimetic ceramide technology to support dry and sensitive skin, is one of six core growth brands under Kao’s Global Sharp Top strategy.
SEPHORA OPENS FIRST SMALL-FORMAT STORE IN VANCOUVER
Sephora Canada will open its first-ever small store format in Vancouver’s Kitsilano neighborhood on June 5, spanning just over 2,000 square feet with a curated assortment of beauty brands including Glow Recipe, Rhode and Sol de Janeiro. The location marks Sephora Canada’s 147th store nationwide, designed to bring beauty discovery and expert guidance closer to local communities.
