The Glossy Beauty Podcast

Over the last week, the beauty industry has seen the closure of three major makeup brands: CoverFX and Mally Beauty are shuttering, while Pat McGrath Labs, once valued at $1 billion, is headed to bankruptcy. This comes on the heels of unexpected 2025 closures that included Ami Colé, Drew Barrymore’s Flower Beauty, REN Clean Skincare, Apostrophe telehealth skincare and Gwyneth Paltrow’s mass line Good.clean.goop. At the helm of two of these brands, CoverFX and Mally Beauty, is AS Beauty CEO Joey Shamah, the founder and former CEO of E.l.f. Cosmetics. “We’ve been coined as a purchaser of distressed assets [at AS Beauty], but we’re not only buying [brands in] distress,” Shamah told Glossy. “We look at them in three buckets. Distressed or challenged is definitely one of them, a second one is divestitures, … and then the third way is similar, but different, where private equity funds have invested in a company, and their funds are sunsetting, so they’re looking to exit.” AS Beauty was founded in 2019 by Shamah and three co-founders. It is the parent company of CoverFX and Mally Beauty, as well as Laura Geller, Julep and Bliss. While the latter two were sunset this past week, Laura Geller has grown more than 10x to over $300 million in sales, Julep has been the No. 1 selling eyeshadow brand on Amazon for several consecutive years, and Bliss has evolved into a multi-category lifestyle brand, according to AS Beauty. In total, AS Beauty’s annual revenue is around $500 million, Shamah told Glossy. Shamah is also the founder and operator of Fit for Life, a fitness equipment licensing company behind brands like GAIAM, New Balance and Fila. AS Beauty purchased Mally Beauty and CoverFX in 2021 and 2022 from investment firms Beauty Visions and L Catterton Partners, respectively. In today’s episode, Shamah joins the Glossy Beauty Podcast to discuss the decision to shutter CoverFX and Mally Beauty — at least for now, we learned — and the economic pressure that led to the decision. He also discussed the challenges of running an underperforming brand, the warning signs that a brand is in distress, and the way an operator comes to the decision to sell, shutter or file bankruptcy.

Ulta Beauty is doubling down on the wellness category. “We’ve been on the journey with wellness since 2021 when we launched the wellness shop at Ulta Beauty, and we’ve learned so much about the category,” Laura Beres, vp of wellness at Ulta Beauty, told Glossy. “Wellness continues to grow in the market, and importantly, our guests just continue to demand more of it. … This is really an evolution of the Wellness Shop.” Launching next week, the retailer is rolling out a pilot program called “Wellness by Ulta Beauty,” a shop-in-shop boutique concept piloted in four U.S. stores. It will include an education-focused wall, gondolas, end caps and a sampling table, all staffed by specially trained wellness advisors. “This is much larger [than our existing Wellness Shop]: It’ll be about 475 square feet in the store, which is a significant experience [for Ulta]. And it will have some space for guests to be able to really explore and navigate in a way that gives them that sense of calm and peace throughout the store,” Beres said. The boutiques will be located in Columbus, Ohio; Short Pump, Virginia; Peabody, Massachusetts; and Naperville, Illinois. Beres joined the Glossy Beauty Podcast to discuss the launch, how brands can participate, and what’s coming next for Ulta Beauty’s continued wellness expansion. Listen in now, then learn more in Glossy’s latest Ulta Strategies story on the launch.

Kimber Maderazzo, a marketing professor at Pepperdine and former leader at Proactiv and L'Oréal, shares her insights on beauty M&A trends. She reflects on the booming billion-dollar deals of 2025 and forecasts a strategic shift for 2026. Kimber emphasizes the rising importance of community over influencers, the increasing expectation for 'clean' products, and the role of AI in consumer decision-making. She highlights emerging consumer bases like Gen Z, while warning of potential pitfalls in marketing to younger audiences.

Dr. Marnie Nussbaum, a renowned dermatologist with two decades of experience, and Jodi Kaplan, a seasoned beauty executive, dive into the evolution of their skincare brand. They discuss the strategic rebranding from 'Lines' to 'Dr. Marnie' for credibility, the importance of dermatology in consumer trust, and the thoughtful approach to product launches. Their commitment to clean formulations and their minimalist ethos reflect a new era in beauty, addressing the growing demand for authenticity in skincare.

What does 2026 hold for beauty and wellness? The hosts predict a shift from minimalist to bold color cosmetics, driven by nostalgia. They dive into the rising trend of peptide therapy and the growing demand for affordable, clean beauty products. Expect savory fragrance notes to replace sweet scents, while brands pivot to value-focused messaging. Additionally, there are concerns about potential market bubbles, including overpriced designer scents. Retailers are also eyeing Gen Alpha shoppers with youth-driven products.

As 2025 wraps up, the discussion dives into Gen Alpha's burgeoning influence as beauty consumers, with brands rapidly adapting to meet their needs. Lip care emerges as a bright spot amidst a challenging year for color cosmetics, while lip liners gain popularity for their new role in contouring. The theme of longevity resonates strongly, driving interest in clinical skincare and wellness investments. The hosts also tackle consumer sentiment, pricing dynamics, and the evolving landscape of independent journalism in beauty.

Kecia Steelman, CEO of Ulta Beauty, shares insights from her transformative first year in charge. Leading initiatives like Ulta Beauty Unleashed, she discusses the importance of agility and cross-functional collaboration that propelled net sales growth. Steelman outlines plans for international expansion into Mexico and the Middle East, the launch of a curated online marketplace, and the role of wellness in beauty. She believes in empowering store associates as brand ambassadors and emphasizes using AI to elevate guest experience.

Sara Spruch-Feiner, a senior reporter, dives into the teen beauty wish lists with insights from 13-year-old Indy from LA. Indy shares her favorite brands like Glossier and Rare Beauty, revealing how her friends influence her beauty purchases. Anna Andreeva, managing director at Piper Sandler, discusses their teen survey, noting a shift towards in-store shopping and the rising popularity of fragrances. The episode highlights how budget-conscious teens are shaping their holiday gift preferences and the impact of influencers on trends.

How can shoppers, brands and retailers win Black Friday?  In this week’s special holiday crossover episode, Glossy Beauty Podcast host Lexy Lebsack is joined by Danny Parisi, host of the Glossy Podcast, and Gabi Barkho, host of the Modern Retail podcast, to unpack all things Black Friday.  The three reporters start by sharing their own experiences and plans for navigating Black Friday as a shopper, then unpack some of the buzziest activations and sales strategies today. This includes both discounting and non-discounting strategies, value-focused sales, bundles and collaborations, among other tactics. The trio also walks through emerging and reemerging trends, like catalogs, gift guides and fragrance-focused experiential events. 

Few beauty executives currently compete in a category they created, but that’s the case for Dr. Julie Chung and Kent Yu, the married co-founders behind T3 hair tools (19:00).  The duo created the luxury hair tool category back in 2004 when they launched T3 with the first lightweight, sleek and quiet blowdryer that delivered smoother, faster results. T3’s Featherweight model was the first luxury dryer on the market and the most expensive at the time, priced at $200. Dr. Chung and Yu quickly found a consumer, and before long, T3 was the first hair tool sold in stores like Sephora.  Fast forward 21 years, and they still own and operate 100% of their Los Angeles-based business. The success of T3 created a runway for a category now filled with brands like Dyson and Shark Beauty.  So what is it like to compete in a category you created? Host Lexy Lebsack sat down with Dr. Chung and Yu to learn about their journey to becoming beauty founders, including making time for Dr. Chung’s first career as an eye doctor. They also discuss how they're navigating their biggest challenges, balancing retail and DTC, maintaining NPD standards in a faster-is-better world, and competing within the category.  But first, Lebsack is joined by co-host Emily Jensen to break down the news of the week. This includes the controversial launch of Rini, a line of skin-care products made for kids aged 2-12 and sold DTC. The line was launched earlier this month by actress Shay Mitchell, boyfriend Matte Babel and Esther Song, and received immediate backlash.  Lebsack and Jensen also discuss the launch of Dua by AB, a diffusion line from skin-care founder Augustinus Bader and fronted by singer Dua Lipa. Unfortunately, diffusion lines — defined as secondary, lower-priced product lines from a higher-end brand — rarely find success in the beauty industry. Finally, the duo discusses L’Oréal Group’s new investment in Chinese mass clean beauty brand Lan and Estée Lauder Companies’ investment in Mexican niche fragrance brand Xinú.