Year in review: 2023’s biggest beauty stories and headlines

By Julia Wray | Published: 18-Dec-2023

These are the beauty industry news stories that dominated this year, covering bankruptcy, legal woes and a very influential doll

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From Natura & Co’s big brand divestments to bounce backs by the likes of Revlon and Avon, 2023 was a busy year for beauty brands. 

The past 12 months have ushered in regulatory reform, legal struggles and a fair share of Chapter 11s.

And then there was Barbiemania. 

Cosmetics Business has rounded up the 16 best and worst beauty moments of 2023.

Natura sells off Aesop & The Body Shop

Year in review: 2023’s biggest beauty stories and headlines
In January, Aesop, the Australian luxury cosmetics brand owned by Brazil’s Natura & Co, was rumoured to be at the centre of a bidding war between beauty bigwigs including LVMH and Shiseido.

In the end, it was L’Oréal which acquired Aesop in April for US$2.52bn amid plans to expand the brand’s presence in China and invest into its travel retail operations.

But Natura & Co was not done with divesting its non-core operations. 

Cut to the end of summer and the rumour mill began rumbling again, this time over The Body Shop.   

After much speculation, with potential buyers including Waterstones owner Elliott Advisors and Alteri Investors, parent company of Missguided, Aurelius Group onboarded the UK ethical beauty retail brand for £207m in November. 

The Lloyds Pharmacy owner acquired The Body Shop for just a fifth of the price that Natura & Co paid for it in 2017.  

Revlon exits bankruptcy, as Amyris files for Chapter 11

Last year’s round-up charted the rise and fall of Revlon as the 90-plus-year-old name filed for Chapter 11.  

But 2023 proved a happier year for the beauty giant.

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