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    Former L’Oréal execs set out to build a $1.2 billion beauty empire. Now all that’s left is Milk Makeup, and its sales just fell 57%

    Fortune
    October 4, 2026
    via Fortune

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    Former L’Oréal execs set out to build a $1.2 billion beauty empire. Now all that’s left is Milk Makeup, and its sales just fell 57%

    Waldencast sold Obagi, lost its founders to the buyer, and is leaving Nasdaq. What's left is a makeup brand whose sales fell by more than half.

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