Data Sets
Business deals in the beauty industry are flourishing as companies seek to expand their market reach, innovate, and stay competitive in a rapidly evolving landscape. Mergers and acquisitions have become a key strategy, with major conglomerates acquiring indie and niche brands to tap into new customer segments and capitalize on emerging trends like clean beauty, inclusivity, and wellness. At the same time, partnerships between beauty brands and influencers or celebrities are also common, leveraging their massive social media followings to drive brand visibility and sales.
Against this background, private equity and venture capital firms are increasingly investing in up-and-coming beauty startups, attracted by their potential for exponential growth and disruptive market impact. Meanwhile, cross-industry collaborations, such as partnerships between beauty brands and technology companies, are fueling innovation, particularly in personalized skincare and virtual try-on solutions. These deals reflect the industry’s dynamic nature and its constant push to adapt and thrive in a competitive global market.
With the foregoing in mind, here is a tracker of the most recent beauty-centric M&A and investments …
LYS Beauty, the inclusive color cosmetics brand launched at Sephora in 2021, has received a Series A investment from private equity firm Encore Consumer Capital. While terms of the deal remain undisclosed, the funding will support operations, inventory, marketing, and expansion—including a rollout to 800 Kohl’s stores via Sephora beginning April 8.
Founded by Tisha Thompson, LYS has grown from six initial products to a lineup of around 15 SKUs, including bestselling items like the No Limits Cream Bronzer Stick and Triple Fix Blurring Skin Tint Foundation. “We’ve seen a 200% year-over-year increase in DTC sales through TikTok Shop,” said Thompson, pointing to the brand’s social commerce momentum.
Unilever has acquired sustainable personal care brand Wild, best known for its refillable deodorants, lip balms, and moisturizers, as part of a broader effort to grow its presence in the premium beauty and wellness sector. While the purchase price remains undisclosed, the deal reportedly values the UK-based startup at approximately £230 million. Launched in 2019 by entrepreneurs Charlie Bowes-Lyon and Freddy Ward, Wild saw significant growth during the pandemic and became profitable in 2023. The brand has built a strong following with its mission to reduce plastic waste in bathrooms by offering eco-conscious, design-led alternatives.
Bowes-Lyon described the acquisition as a major step forward for Wild, noting that Unilever’s global infrastructure and expertise will help accelerate growth and bring the brand’s sustainable ethos to more consumers. He also revealed ambitions to shift some manufacturing—particularly of Wild’s aluminum cases—from China to Unilever-owned facilities in the U.S.
The acquisition supports Unilever’s Growth Action Plan 2030, which focuses on building a portfolio rooted in high-growth, premium categories.
Antithesis, a rising name in India’s beauty and personal care space, has raised ₹5 crore ($583,450) in a pre-seed funding round co-led by Rukam Capital and V3 Ventures. Known for backing disruptive consumer brands, the investors are supporting Antithesis as it aims to redefine the personal care category with modern, high-performance solutions. The funding will enable Antithesis to strengthen its digital-first presence, expand distribution channels, and accelerate innovation in product development.
“The personal care sector in India is evolving rapidly,” said Archana Jahagirdar, Founder and Managing Partner at Rukam Capital. “We back founders who reimagine industries with fresh perspectives, and Antithesis is perfectly positioned to meet the growing demand for smarter, lifestyle-aligned products.”
Coty Inc. has sold its 20 percent stake in SKKN by Kim to Skims, the shapewear brand co-founded by Kim Kardashian. The move, announced Friday, consolidates Kardashian’s beauty and lifestyle ventures under one umbrella. Coty originally invested in SKKN by Kim in 2020, finalizing the deal in 2021. Anna von Bayern, CEO of Kylie Cosmetics and head of Kardashian’s beauty business at Coty, expressed gratitude for the partnership and reaffirmed Coty’s commitment to its majority stake in Kylie Cosmetics, which has grown 1.5x in size over the past two years.
K-beauty skincare brand Yepoda has completed a new funding round led by Belgian investment firm Verlinvest, with participation from existing investors V3 Ventures and JamJar Investments. While the value of the round remains undisclosed, Yepoda’s founders continue to hold a majority stake in the company. “The new funding will enable Yepoda to accelerate its growth, notably through the recent European deployment via Sephora, and to support its launch in the USA, while remaining committed to product innovation,” the company stated.
Founded in Berlin in April 2020 by Veronika Strotmann and Sander Joonyoung, Yepoda draws inspiration from South Korean skincare traditions and has recently expanded into European Sephora stores. The new capital will support its continued growth, including a U.S. launch and ongoing investment in product innovation.
Indian clean beauty brand Pilgrim has secured ₹200 crore ($23.1 million) in a funding round led by existing backers Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust, with new participation from Vertex Growth Fund and Anicut Equity Continuum Fund. The round values Pilgrim at approximately ₹3,000 crore ($361 million) pre-money.
Founded in 2020, Pilgrim blends globally sourced natural ingredients with scientific formulations to create innovative beauty solutions. The funding will deepen its offline footprint, enhance R&D, and build on its profitable online presence. “This funding marks a pivotal moment for Pilgrim,” said co-founder Gagandeep Makker. “It will help us expand and innovate while staying true to our mission of delivering world-ingredient beauty for modern consumers.”
Beauty brand indē wild, known for merging Ayurvedic wisdom with modern science through its “Ayurvedistry” approach, has raised $5 million in a funding round led by Unilever Ventures, with continued support from existing investors SoGal Ventures and True. The capital will drive international growth, including expansion of its Sephora UK partnership and an upcoming launch in Sephora US.
“Today’s generation seeks brands that reflect their identity,” said Diipa Büller-Khosla, Founder of indē wild. “The most impactful brands are built on deep listening, constant evolution, and empowering communities to co-create their journey. I am excited to scale indē wild to new heights and redefine what it means to truly connect with our audience.”
Fara Homidi Beauty has secured investment from Sandbridge Capital, which has taken a “significant minority” stake in the luxury beauty brand, which will use the new funds to expand its team, fuel marketing efforts, and drive international growth, with the UK as its first target market. Ken Suslow, Founder of Sandbridge Capital, highlighted the brand’s unique appeal, stating, “Fara Homidi Beauty’s artfully elevated approach to reimagining clean and efficacious colour sets it apart as a luxury, makeup-artist-driven label with global potential.”
Borntostandout, a Seoul-based luxury perfume label, has raised Series A capital in a funding round led by Touch Capital, with participation from BOLD, L’Oréal’s venture capital fund. The terms of the deal were not disclosed. The brand will use the new funds for “offline expansion in Europe and the U.S., enhancing fragrance discovery experiences, and strengthening its international market presence.” Jun Lim, founder and managing director of Borntostandout, stated, “Receiving backing from such prominent investors is powerful validation that fragrances infused with originality are one of life’s greatest luxuries.”
Launched in 2022 and distributed in over 60 countries, Borntostandout is known for its daring, provocative scents like Drunk Maple and Angels’ Powder. The brand plans to expand its flagship presence in Seoul and open stand-alone stores in Paris and New York.
Huda Beauty will sell KAYALI, the fragrance business founded by Huda and Mona Kattan, the latter of whom will partner with General Atlantic, a leading global growth equity firm, “to jointly own KAYALI post-sale and to support the brand’s ambitious plans of bringing the love for scent layering to the world.” With General Atlantic’s investment, KAYALI will now operate as an independent company, the companies confirmed, noting the “the separation comes after years of developing the brand in Dubai, establishing it as a globally renowned Middle Eastern brand recognized for its marketing, social media strategies, and delicious gourmand fragrances.”
KAYALI’s partnership with General Atlantic “will provide the necessary resources and expertise to accelerate the brand’s evolution while maintaining its authenticity, creativity, and deep connection with its community,” according to General Atlantic. “Mona Kattan will continue her role as KAYALI’s CEO, leading the brand into its next phase of growth and transformation.”
L’Oréal has taken a minority stake in independent fashion brand Jacquemus and signed a “long-term, exclusive partnership” to manufacture and distribute the French fashion brand’s beauty offerings. The terms of the deal have not been disclosed. Cyril Chapuy, President of L’Oréal Luxe said, “We are thrilled to welcome JACQUEMUS and unleash together its outstanding luxury beauty potential. With its singular brand positioning, fueled by sensational creativity and social first playfulness, JACQUEMUS will perfectly complement L’Oréal Luxe’s portfolio of iconic brands and reinforce our worldwide leadership.”
L’Oréal has agreed to sell 29.6 million Sanofi shares for €3 billion, reducing its stake in the pharmaceutical company to 7.2 percent while retaining 13.1 percent of the voting rights. The sale is part of L’Oréal’s strategy to optimize its financial management following recent acquisitions. The company said the share sale “strengthens [its] balance sheet and enhances financial flexibility for future investments.”
Give Back Beauty, the Italian entity that makes perfumes for luxury brands like ZEGNA, will acquire AB Parfums from owner Angelini Industries. The deal will enable Give Back Beauty “to grow its distribution operations and add licensing deals,” per Reuters, as AB Parfums has an agreement with beauty giant L’Oréal Group to distribute fragrances for Ralph Lauren, Maison Margiela, and Diesel, as well as for brands like Trussardi and Laura Biagiotti.
111SKIN has received a “significant minority investment” from SKKY Partners, the consumer-focused private equity firm co-founded by Jay Sammons and Kim Kardashian. With SKKY’s support, 111SKIN says that it “aims to strengthen its direct-to-consumer business while expanding its customer base in key markets, including North America and Asia. Co-founders Eva and Dr. Yannis Alexandrides will retain majority ownership and continue to lead the company, along with CEO Vanessa Goddevrind.
“We are excited to join forces with visionary partners that will help us write the future success story of our brand,” said Dr. Yannis and Eva Alexandrides, “The SKKY Partners team has tremendous experience working with distinctive, growth-oriented brands. They are passionate champions of our core values and share our drive for excellence,” Goddevrind added.
Deconstruct has raised Rs 65 crore ($7.5 million) in a Series A round from L’Oréal’s VC fund BOLD, V3 Ventures, and DSG Consumer Partners, with additional participation from existing investors Kalaari Capital and Beenext. The New Delhi-based D2C skincare brand plans to use the funds for product innovation and enhance its distribution networks, especially on quick commerce and retail points. “Over the past year, we’ve helped 2Cr+ beginners start their skincare journey in the most remote pincodes. This funding empowers us to singularly focus on building highly effective yet gentle products,” said founder Malini Adapureddy.
American Exchange Group has acquired skincare brand Urban Skin Rx. The terms of the deal have not been disclosed. “Urban Skin Rx® has built an impressive business with its clinical approach to skincare, and we are excited to add this brand into our rapidly expanding skincare and wellness portfolio,” said Alen Mamrout, CEO of American Exchange Group.
“This acquisition aligns perfectly with our growth strategy, and we see tremendous potential to expand Urban Skin Rx’s reach and impact. With our resources and expertise, we plan to grow the brand’s direct-to-consumer business, broaden its product range, and explore new brand extensions through strategic licensing and partnerships.”
Foxtale has raised $30 million in a Series C funding round led by Japanese beauty products company Kose Corporation, with participation from existing investors Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners. The Mumbai-based direct-to-consumer skincare brand will use the new funds to expand its product range and enhance its online presence. It has also entered into a strategic partnership with KOSÉ Corporation to expand the global beauty leader’s presence in India.
Ras Luxury Skincare has raised $5 million (Rs 43 crore) in a Series A funding round led by Unilever Ventures, with additional participation from Amazon Smbhav Venture Fund, Sixth Sense Ventures, and other angel investors. The luxury Indian beauty brand will use the new funds for “retail expansion, talent acquisition, R&D, product diversification, marketing, and technology advancements.” Pawan Chaturvedi, Head of Unilever Ventures Asia, highlighted the growth potential of India’s premium beauty market, stating, “Over the next 5-7 years, the premium beauty market in India will witness significant growth, and Ras, with its distinct value proposition, is well poised to capture this opportunity.”