In Exclusives, Finance

It was certainly a good run and it was bound to happen, but we’ve started to see the beauty bubble deflate. Billion-dollar deals have slowed, although this quarter saw a couple, with General Atlantic taking a 60% stake in Morphe Cosmetics at a $2.2 billion valuation and Colgate acquiring Filorga for $1.69 billion. Angels, Venture Capital, and Private Equity are making smaller investments and placing their bets on the next crop of indie brands that could be on the path to unicorn status.

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