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Agenda-setting intelligence, analysis and advice for the global fashion community.

Refy Bets the Indie Beauty Boom Isn’t Over Yet

Despite a slowdown in the M&A pipeline and rising pressure on indie brands, British cosmetics company Refy thinks it can buck the trend and become a breakout star. Pulling it off will require careful calibration to help it broaden its presence without denting its status.
Refy's pop-up at London department store Selfridge's
Refy's pop-up at London department store Selfridge's saw heavy foot traffic this summer. (Courtesy)

Between rising interest rates, increased competition and slow-moving M&A dealflow, beauty founders – and their investors – are likely hedging their bets on their eventual exits.

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Further Reading

Beauty’s Most Sought-After M&A Targets in 2024

Now that the market has stabilised, beauty brands of all shapes and sizes are eager to get their dues. The Business of Beauty identifies the top targets of the year including Kosas, Summer Fridays and Selena Gomez’s Rare Beauty.

About the author
Daniela Morosini
Daniela Morosini

Daniela Morosini is Senior Beauty Correspondent and Special Projects Editor at The Business of Beauty at BoF. She covers the global beauty industry, with an interest in how companies go to market and overcome hurdles.

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