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Op-Ed | The Cost of Growth in Beauty

More competition and challenging external factors have made it more difficult for beauty brands to maintain momentum, said Barclays' Lauren Lieberman.
Beauty products supplier Knowlton targets over $3 billion valuation in US IPO.
Beauty products supplier Knowlton targets over $3 billion valuation in US IPO. (Shutterstock)
By
  • Lauren Lieberman

If the tail of 2024’s earnings season in beauty is a reminder of anything, it is that the beauty industry, while attractive from a growth perspective, is more hotly competitive than ever, with the cost of growth rising and the need for continuous blockbuster innovation table stakes.

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Further Reading

Beauty’s Top M&A Targets for 2025

After a slow year for acquisitions, brands and investors alike are hoping that 2025 will yield bigger exits. But with most strategic buyers like L’Oréal and Estée Lauder operating with an even narrower lens, only a select few firms will make it.

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