March in review: Tariff recoup efforts, Beauty giant acquisitions, PCHi 2026

This month in industry news, Beauty giants scrambled to reclaim tariff refunds after the Supreme Court ruled that levies imposed under President Donald Trump’s emergency powers were unlawful. 

Estée Lauder confirmed it is in talks with Puig over a potential merger that could reshape the luxury beauty landscape into a US$40 billion powerhouse. 

Meanwhile, escalating tensions linked to the war in Iran sent shockwaves through the sector, causing major ingredient suppliers to grapple with supply disruptions and surging costs.

Lastly, Personal Care Insights was on the ground at PCHi 2026 (Personal Care and Homecare Ingredients) in Hangzhou, China, from March 18–20, to discuss with industry players what innovations are poised to redefine personal care in the country and at large.

Turning staples into status objects: Unilever revamps Vaseline

Vaseline underwent a rebrand to cater to Gen Z and Gen Alpha with the launch of Gluta-Hya Lip Serum Gloss. The gloss and heritage brand revamp reflects a broader shift in lip care where social visibility and emotional resonance drive growth. Melissa Houston, global associate brand director of Vaseline at Unilever, told us about how a renewed focus on desirability signals a strategic evolution beyond simple product expansion. She said that legacy brands cannot stand still, or they risk irrelevance — instead, they must translate trust into innovations that move with culture.Jean-Yves Bruxer, managing director at Sethic, told us about the company’s new “glass skin” ingredient. 

Beauty giants seek refunds after US tariffs ruled unlawful

Beauty multinationals, including L’Oréal, Sol de Janeiro, and Dyson, sought refunds on US tariffs after the Supreme Court ruled that levies imposed under President Donald Trump’s emergency powers were unlawful. L’Oréal brought the case through its Travel Retail Americas division, which oversees beauty sales across airports, airlines, and cruise lines. We unpack how the thousands of filed claims could unlock billions in repayments and significantly reshape tariff strategies across the global beauty supply chain.

Perimenopause knowledge gaps open doors to targeted personal care

On International Women’s Day, Personal Care Insights spoke to Mayo Clinic and Flo about their global survey that revealed gaps in perimenopause awareness. The gaps demonstrate a significant opportunity for the personal care industry to empower women by offering better education and targeted products. We discuss that by addressing these needs, brands can tap into an underserved market with specifications by region. 

L Catterton builds Brazil’s largest beauty retail platform

LVMH-backed private equity firm L Catterton combined Brazilian beauty retailers Bel Cosméticos and Mundo do Cabeleireiro to create what it called the country’s largest multi-brand specialty beauty retail platform. Each chain offers curated assortments of beauty products at accessible prices and claims to have built a strong consumer base and a portfolio of regional brands. We unpacked how the new company plans to expand product offerings, strengthen launch strategies, and invest in omnichannel capabilities. Beto Pino, VP of marketing and innovation for Personal Care at Vantage, discussed the company’s focus on Chinese beauty trends at PCHi 2026. 

Pakistan faces global pressure to “walk the talk” on toxic skin-whitening creams

Over 20 international health and environmental organizations urged Pakistan to halt the production and global trade of mercury-laden skin-whitening creams. Pakistan announced multiple measures to address the country’s manufacturing of the toxin-containing cosmetics. However, the Mercury Policy Project told us that despite Pakistan’s claimed efforts, the dangerous creams continue unchecked, largely due to weak enforcement, regulatory loopholes, and profitability. 

European beauty CEOs urge regulatory clarity as rules threaten regional reign

European beauty leaders raised concerns that EU regulations are diverting R&D investment toward reformulation rather than innovation, impacting industry competitiveness. At the Value of Beauty Annual Summit, beauty executives called on policymakers to deliver clearer, more predictable rules. The experts highlight concerns about the Urban Wastewater Treatment Directive and the Packaging and Packaging Waste Regulation, which are forcing cosmetic companies to reshape their investment decisions.

Estée Lauder and Puig discuss merger as fragrance race drives industry investment

This month, Estée Lauder was in talks with Puig about a potential merger that could create a US$40 billion luxury beauty company. The deal would expand Estée Lauder’s fragrance portfolio, bringing brands like Tom Ford, Rabanne, and Clinique under one umbrella. This could strengthen both companies’ position in the global fragrance market, which has seen heightened investment from global giants such as L’Oréal. We position the potential merger against the increasing competition in the fragrance sector.

Iran war drives BASF and Ashland to increase prices

Major ingredient suppliers have reacted to the Iran war by adapting their pricing across their portfolios. Intensifying unrest in the SWANA (South West Asia and North Africa) region is causing adverse knock-on effects on supply chain integrity, volatility in pricing, and precarious raw material availability. In response, BASF raised product costs by up to 30% on all products across its Home Care, Industrial and Institutional Cleaning, and Industrial Formulators portfolio in Europe. Meanwhile, Ashland implemented various new pricing strategies across products and regions. Coachchem unveiled the EffeMix – Wukong CC ingredient at PCHi 2026, positioning it as an all-in-one solution for hair care.  

PCHi 2026: Beauty innovation steered by sensory experience and proven efficacy

Visual and sensory appeal play a key role in attracting Chinese beauty consumers, but purchasing decisions are ultimately driven by performance. We attended PCHi 2026 and spoke to multiple exhibitors about their new evidence-based ingredients and innovative textures. All speakers emphasized the need for a pleasant sensory experience and data to validate effectiveness.

Henkel to acquire prestige hair care brand Olaplex for US$1.4B

Henkel announced it is acquiring Olaplex for US$1.4 billion. Despite facing revenue challenges, Olaplex stands to benefit from Henkel’s global reach and innovation resources. The deal may turn the hair care brand around after it experienced pressure from larger beauty players and newbie science‑based brands. The move also marked Henkel’s second hair care brand acquisition in a month, following its purchase of Not Your Mother’s.