Clinique

To build a business that lasts, brands must appeal to more than their original core demographic. Behemoths like Nike and Apple have done so — but makeup, skin care and hair lines have had less luck.

Beauty megadeals may be few and far between over the near term, but M&A will still be critical for buyers and sellers seeking growth, innovation and competitive product portfolios, reports The State of Fashion: Beauty.

The State of Fashion: Beauty explores why the international growth strategies of beauty brands and retailers need a reset to capture opportunities in new markets, like India and Middle East, emerge along with industry juggernauts, the US and China.

Beauty brands have a natural edge on TikTok and YouTube, but are lagging the fashion industry in making a splash in the virtual world. Without the logos and distinctive characteristics of apparel and accessories, it’s unclear how skin care, makeup and fragrance will establish a presence and a purpose in web3.

This week, the luxury group appointed LVMH veteran Philippe Fortunato to oversee fashion and accessories, while the German suit maker tapped Daniel Grieder after his recent departure from Tommy Hilfiger.