Business deals in the beauty industry are flourishing and funding is flowing 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 …
Apr. 1, 2025 – Unilever Acquires Wild
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.
Mar. 24, 2025 – Coty Sells Stake in SKKN by Kim to Skims
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.
Feb. 18, 2025 – Huda Beauty to Sell KAYALI Fragrance Business
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.”
Feb. 7, 2025 – L’Oréal Takes Minority Stake in Jacquemus
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.”
Feb. 5, 2025 – L’Oréal Sells €3B in Sanofi Shares
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.”
Jan. 31, 2025 – Give Back Beauty to Acquire AB Parfums
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.
Jan. 23, 2025 – SKYY Partners Takes Stake in 111SKIN
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.
Jan. 22, 2025 – Deconstruct Raises $7.5M in Series A
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.
Jan. 22, 2025 – American Exchange Group Acquires Urban Skin Rx
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.”
Jan. 15, 2025 – Foxtale Raises $30M in Series C
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.
Jan. 13, 2025 – Ras Luxury Skincare Raises $5M in Series A
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.”
This is a short excerpt from a data set that is published exclusively for TFL Pro+ subscribers. For access to our up-to-date beauty investment and M&A tracker, inquire today about how to sign up for a Professional subscription.
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