Last week in beauty Givaudan sales surged in Q3 while Galderma makes a $1.5bn acquisition. Subscribe to my newsletter for weekly insights on the beauty industry. Link in the comments.
GIVAUDAN GREW 8.6% LFL IN Q3 26 DRIVEN BY FINE FRAGRANCE
Givaudan’s first-nine-month sales reached CHF 5.9 billion, up 5.2% like-for-like, with Q3 growth accelerating to 8.6% LFL as Fragrance & Beauty rose 8.8% to CHF 3.15 billion. Fine Fragrance grew 15.3% and Consumer Products 9.3%, while Taste & Wellbeing fell 3.3% LFL in North America and Givaudan reiterated its 4–6% average LFL growth target.
LVMH BEAUTY GROWS 1% IN Q3 26 WHILE RETAIL DIVISION IS UP 8%
LVMH’s Perfumes & Cosmetics division generated €2.0 billion in Q3 2026, up 1% organically after a 1% decline in Q2, within group revenue of €18.5 billion, up 1% organically. Sephora drove Selective Retailing up 8% organically as it gained market share, while Fashion & Leather Goods fell 5% on weaker Chinese demand, and Dior and Guerlain fragrance and makeup lines supported beauty.
DOLCE & GABBANA BEAUTY TARGETS DOUBLE-DIGIT GROWTH IN 2026
Dolce & Gabbana Beauty is targeting double-digit growth in 2026 after wholesale revenue exceeded €1 billion last year, up 14 percent and more than triple its 2022 level, with double-digit operating margins. The in-house division, brought back from licensing in 2022, plans to strengthen fragrance franchises, expand makeup distribution and launch a full skincare range, targeting 50 to 70 standalone stores within three years.
E.L.F. BEAUTY REINVESTS US$50M TARIFF REFUND
e.l.f. Beauty has received approximately $50m in tariff refunds after a US Supreme Court ruling overturned tariffs on imported goods, and will use the funds to lower prices on about 10 percent of its portfolio and boost marketing in the UK, Canada and Germany. Marketing spend for the year ending March 2027 is expected to reach the upper end of its 23–25 percent of net sales guidance, following similar moves by Macy’s ($116m) and Kimberly-Clark ($45m).
KIKO MILANO PLANS MAJOR INDIA STORE PUSH
Kiko Milano aims to double its 20 points of sale in India by the end of 2026, targeting the country as a top-five global market by 2035 through its Reliance Beauty and Personal Care partnership. The Italian brand, which entered India in 2019 and operates across eight cities, expects India to become a top-10 market between 2028 and 2030, with makeup accounting for about 80 percent of sales.
GALDERMA TO BUY ZO SKIN HEALTH FOR $1.5BN
Galderma has agreed to acquire physician-dispensed skincare brand ZO Skin Health for US$1.5 billion in an all-cash deal from shareholders including Blackstone and the Obagi family, expected to close in Q4 2026 or early 2027. Founded by dermatologist Dr. Zein Obagi, the Irvine-based brand sells over 40 products through more than 16,500 physicians and medical spas across 40-plus countries, posting roughly US$330 million in net sales in the 12 months to June.
BEAUTYPRO ACQUIRES MAKE-UP BRAND SUPERCOVER
British beauty company BeautyPro has acquired make-up foundation brand Supercover for an undisclosed sum, its third acquisition in under two years following Skin Sapiens in April 2025. Founded in 1997 by Zaf and Najma Ansari, the parents of BeautyPro co-creator Ibs Ansari, Supercover offers 42 shades across ten undertones, has a strong following among make-up artists and South Asian consumers, and will relaunch with a redesigned website.
EU APPROVES KIMBERLY-CLARK’S $48.7BN KENVUE TAKEOVER
The European Union has cleared Kimberly-Clark’s US$48.7 billion acquisition of consumer health company Kenvue, owner of Neutrogena, Aveeno, Johnson’s Baby and Listerine, subject to conditions. Kimberly-Clark must divest its feminine hygiene brands Kotex, Camelia and Record across the European Economic Area, sold to Turkish firm Dilek, preserving competition, choice and affordable prices.
DOUGLAS APPOINTS JEAN-MARC BELLAICHE CEO
Douglas Group has appointed Jean-Marc Bellaiche as CEO effective November 1, succeeding Sander van der Laan, who is retiring after four years in the role and a 36-year career. Bellaiche, previously CEO of Printemps and Sani/Ikos, takes over a group with about 1,970 stores across 22 countries and €4.58 billion in FY2025 sales.
ESTÉE LAUDER UNVEILS BEAUTY&YOU INDIA FINALISTS
The Estée Lauder Companies has announced 14 finalists for BEAUTY&YOU India 2026, its fifth-year programme with Nykaa and Startup India, spanning Grow, Imagine, Breakthrough and Design categories. The Breakthrough award, run with ELC’s Paris Fragrance Atelier, targets fragrance innovation, with finalists to present in Mumbai before winners are named, judged by ELC executives and leaders including Katrina Kaif.
SHISEIDO SUES SHEIN OVER UNAUTHORISED BEAUTY SALES
Shiseido’s French subsidiary Beauté Prestige Internationale is seeking more than €2.6 million from Shein, accusing the platform of selling its products outside its authorised selective distribution network, with Marseille’s business court deferring its ruling to January 26. BPI claims €2.1 million for image damage and €500,000 for commercial harm, documenting 37 offers on Shein, which counters that it is merely a “host,” in a case testing selective distribution contracts.
SYMRISE OPENS SINGAPORE SCENT CREATIVE CENTER
Symrise has opened a new Scent Creative Center in Singapore, combining consumer fragrance, fine fragrance and oral care expertise with a Global Skin Cleansing Center of Excellence, following more than €80 million invested in the country over ten years. The hub features real-life evaluation environments including bathroom, salon and laundry settings, with an adjacent Innovation Center planned for Q1 2027.
DSM-FIRMENICH OPENS NEW YORK FINE FRAGRANCE HUB
DSM-Firmenich has opened a 44,000-square-foot fine fragrance flagship at 641 Avenue of the Americas in Chelsea, New York, housing around 100 employees including nine perfumers. The site features a custom compounding robot, Cerberus, capable of handling up to 456 raw materials, and launches Open Air, a cultural platform connecting fragrance with food, music, fashion and community organisations.
MANE BUILDS €45 MILLION GRASSE FRAGRANCE CENTRE
Mane has begun building a €45 million Fragrance Design Centre at Bar-sur-Loup in the Grasse region, an 8,900 sq m site for perfume creation and development due to open in 2028. The centre will house around 250 perfumers, evaluators and scientists serving EMEA Consumer Goods clients, part of Mane’s 54 R&D centres worldwide.
L’ORÉAL TRAVEL RETAIL AND AVOLTA SIGN SUSTAINABILITY PLAN
L’Oréal Travel Retail and Avolta have signed a joint Sustainability-Linked Business Plan, formalised at the TFWA World Exhibition in Cannes, to expand refillable fragrance formats and cut supply chain emissions. The partners target 10 percent refill formats across core fragrance categories by 2030, alongside lower-emission logistics and CSR training for frontline Beauty Advisors, citing data that 80 percent of Gen Z duty-free shoppers seek sustainable beauty products.
ESTÉE LAUDER & RELIANCE FOUNDATION PARTNER FOR INDIAN WOMEN
The Estée Lauder Companies Charitable Foundation and India’s Reliance Foundation have launched a multi-year partnership to empower one million girls and young women aged 14 to 20, starting in Maharashtra and Madhya Pradesh. The programme builds life skills, digital and financial literacy and awareness of education, training and livelihood pathways, extending ELC’s more than 20 years of philanthropic work in India.
BAREFACED LAUNCHES PERSONALIZED PRESCRIPTION SKINCARE PLATFORM
Barefaced, the skincare brand founded by nurse practitioner Jordan Harper, has launched Barefaced Rx, an online platform offering clinician-guided prescription treatment for concerns spanning acne, redness, pigmentation, aging, hormonal skin changes, eye care and body care. Patients complete an online survey reviewed by a state-licensed clinician who determines the treatment plan, with a cash-pay model featuring free intake, no membership or consultation fees and direct delivery, though Harper sees brick-and-mortar expansion ahead.
GLOW RECIPE LAUNCHES BULDAK-INSPIRED LIP BALMS
Glow Recipe has partnered with Korean spicy noodle brand Buldak, owned by Samyang Foods, on a limited-edition US$38 Glass Balm Duo with tints inspired by Buldak’s Original and Carbonara sauces. The duo debuts Thursday on TikTok Shop, rolling out to Sephora online on October 23 and in stores November 2, as food-beauty crossovers continue to surge in the US.
E.L.F. DEBUTS AVATAR STYLING ON ZEPETO
E.l.f. Cosmetics has partnered with metaverse platform ZEPETO to launch “Express your e.l.f.,” its first virtual styling experience letting users create avatar looks with Power Grip make-up, hairstyles, bags and jewellery. The activation follows the brand’s earlier Roblox and Twitch efforts, with Chief Integrated Marketing Officer Patrick O’Keefe saying e.l.f. meets its community “where they like to play” to fuel discovery and self-expression.
