The BeautyMatter Deal Index tracked 59 deals in Q2 2025, up 13.5% quarter over quarter versus last year. This brings the total deals tracked during 1H 2025 to 118, almost even with the 117 deals tracked during 1H 2024. Deal activity during Q2 helped reverse a 9.2% decline in activity during Q1. After a steep decline in Q1, growth deals made a comeback in Q2, up 75% quarter over quarter versus last year. M&A deals were down 14.3% quarter over quarter versus last year. Growth deals ended 1H up 6.3%, after being down 28.1% in Q1, and M&A deals were down 1.5% after being up 12.9% in Q1. There were no SPAC deals and just one IPO, Chinese Fragrance Distributor Eternal Beauty, which went public on the Hong Kong exchange. This was just the second beauty IPO of the year, joining Saudi Arabian beauty e-commerce platform Nice One, which listed on the Saudi exchange in Q1.

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Beauty Deals: Investment + M&A Transactions Q2 2025

“BeautyMatter is the only one that provides full insight, not just the hard data or the numbers, but also the intelligence of understanding what the numbers mean for companies and the market. I think that is a super valuable source for the investors, for the founders, for the strategists who are trying to buy brands, to understand what it's really like, what's going to be the next thing.”
-Jorge Cosano
Founder & Managing Partner, Synchronicity Ventures

Investors: If you’re an active or interested investor in the beauty and wellness space, this report is a must-read. The detailed analysis and insight provided will help guide you toward fruitful investment decisions.

Brands and Retailers: If you are in fundraising mode or contemplating an exit and looking for a list of investors active in the space, we’ve also got you covered.

You will have access to:

• 121 pages covering deals across the beauty and wellness value chain
• BeautyMatter Q2 Index
• Easy-to-reference charts including 59 transactions, organized by category with high-level details and financial players involved
• Overview on the state of the industry for the quarter from BeautyMatter
• SEO trend report from machine intelligence platform, Spate
• Social media metrics of key brands from Dash Social
• Deal flow chart - who invested in what in Q2 with live links
• Recaps and details of 59 individual transactions
• List of angel investors active in Q2
• List of private equity and venture capital firms active in Q2 with live links

For a competitive edge, follow the money.

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