Editors' Top Reads: News from Estée Lauder, Olaplex, Philip Kingsley and more...

Here are some of this week’s news and features highlights handpicked by TheIndustry.beauty team.

What an Estée Lauder-Puig merger could mean for beauty - experts weigh in

The beauty industry is abuzz with speculation following news that The Estée Lauder Companies has entered discussions with Puig regarding a potential merger. While Estée Lauder emphasised that no final decision has been made - stating that "there can be no assurance a deal will proceed or what its terms might be unless a formal agreement is signed" - the mere prospect of a combination has captured widespread attention.

Much of the market’s focus is on Puig’s fragrance portfolio, which includes names such as Byredo and Penhaligon's, and how these would complement Estée Lauder’s own fragrance offerings, including Jo Malone London. Analysts suggest the potential synergies could allow the combined entity to strengthen its position in the buoyant fragrance category, offering opportunities to expand market share and leverage global distribution channels.

They also note that a merger of this scale must deliver clear strategic value for both parties while preserving the equity and distinctiveness of their luxury brands. Success would depend not only on combining portfolios and operations but also on building a cohesive, forward-looking organisation capable of maintaining creativity and competitive edge in the prestige beauty market. Read more about what analysts are saying here.

Sophie Smith, News Editor & Senior Writer.

Grown Alchemist CEO Anna Teal exits to launch new wellness brand

When Anna Teal joins a brand, you take notice. When she decides to launch one, well, then you sit up and really pay attention.

Teal will be known to many of you from her time at Boots (where she was in charge of developing global brands) and for heading up Aromatherapy Associates. For the past two years, she has been CEO at Grown Alchemist, where she has been overseeing its transition from L'Occitane Group ownership to its new private status.

Having done that, she is now moving on and launching her own wellness brand AFIMA. Exactly what this brand will do, we do not yet know, but it will sit in a white space Teal says she cares deeply about. Given her talent for spotting niches and building authentic brands, we can feel fairly certain this will be a big success.

As further evidence of her handle on the zeitgeist, she is also launching a beauty Substack, called Beautiful Hustle, where she will recount the trials and tribulations of launching your own brand. Read more about her move here, and keep an eye on this one. It's going to be very interesting!

Lauretta Roberts, Co-founder, CEO and Editor-in-Chief.

How I started in beauty: Anabel Kingsley, Brand President at Philip Kingsley

Consultant trichologist Anabel Kingsley, Brand President of Philip Kingsley, has long been fascinated by hair - an interest that feels almost inevitable given her father was the brand’s eponymous founder.

Having served as Brand President for almost two decades, Kingsley remains dedicated to honouring her father’s legacy while pushing the brand forward in a rapidly changing beauty landscape.

Each installment in this series is compelling, but this one particularly resonated with me, as someone who also holds deep admiration for their father. From her early passion for hair and trichology to her father’s enduring influence and her vision for the brand’s future, it makes for an engaging and heartfelt read. Read the full interview here.

Sophie Smith, News Editor & Senior Writer.

Major premium beauty reshuffles with Olaplex sale and new backing for Salt & Stone 

This has been a major week of reshuffles in the prestige beauty market. On Thursday, Henkel, the German giant behind haircare brand Schwarzkopf, announced its acquisition of premium haircare brand Olaplex for £1.053 billion ($1.4 billion). With Henkel's acquisition of Olaplex, Advent, which has backed the brand since 2019, will fully exit the business. This marks the end of an era for Olaplex, whose backing by Advent supported the company’s growth into a science-led brand focused on hair health.

As part of the Henkel company, Olaplex will integrate its North American direct-to-consumer and specialty retail operations with Henkel’s global footprint, expanding international reach and supporting innovation through "advanced technology, enhanced capabilities and accelerated product development".

Advent has already set its sights on new frontiers, moving from haircare to bodycare. Just two days before the Olaplex sale was announced, it signed a definitive agreement to acquire a majority stake in Los Angeles-based bodycare brand Salt & Stone. Financial terms of the deal have not been disclosed.

The deal follows the brand's $165 million revenue in 2025, driven by double-digit growth across all channels, including Amazon, Sephora, and its direct-to-consumer (DTC) site, which accounted for 40% of sales.

Read TheIndustry.beauty's interview with Nima Jalali to find out more about how he built Salt & Stone into bodycare’s breakout brand.

It will be very interesting to see how both Olaplex and Salt & Stone evolve their brands.

Camilla Rydzek, Senior News and & Features Writer.