Cheat Sheet December 24 2025
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Beauty’s Top Headlines: December 23, 2025

CEO Sue Nabi Exits Coty; Pupa Milano Turns 50; FIRN Doubles Down on Organic Marketing; M&A Blockbusters; Beauty Wants to Have Fun

Ending rumors that the end was near, Sue Nabi, the CEO of Coty, has left the company after five years, reports Vogue Business. Nabi joined the beauty giant in July 2020, succeeding then-CEO Peter Harf, who was in the role for a month before being made executive chair. Harf will also be stepping down from his role that he spent more than three decades in. Coty announced that Markus Strobel will take on the role of executive chairman of the board and interim chief executive officer from January 2026.

In brand news, Italian beauty brand Pupa Milano marks its 50th anniversary, reflecting on its legacy of playful, innovative makeup kits that have captivated generations, says WWD. The company, which achieved €98.5 million in sales in 2024, is now focused on transforming from a beloved Italian brand into a global beauty player by sharpening product innovation and expanding its international distribution. Leadership credits creativity and imagination as the core of Pupa’s enduring appeal.

FIRN, co-founded by Sacha Bostoni, is making waves in the cosmetics industry by prioritizing scientific credibility over traditional marketing, says Forbes France. The brand’s minimalist, science-inspired packaging and focus on biotechnology aim to stand out in a saturated market, emphasizing clarity and authenticity. FIRN’s approach is to simplify communication and invest in product performance rather than advertising, with its STM30 active ingredient at the center of its innovation.

The beauty industry’s M&A activity in 2025 has been marked by select blockbuster deals, with buyers focusing on brands that demonstrate strong differentiation, clinical validation, and global scalability, according to Beauty Independent. Strategic buyers are increasingly seeking brands with proprietary IP and robust infrastructure, while many indie brands remain independent due to valuation gaps. The trend highlights a shift toward quality and resilience over mere scarcity or hype.

Beauty brands are increasingly adopting playful, toy-inspired marketing and product design, appealing to consumers’ desire for emotional connection and self-expression, reports WWD. Companies like Zuru and Daise Beauty are leveraging this trend to target Gen Alpha and beyond, with vibrant, interactive brand worlds driving significant growth. Experts note that the collectible and playful aesthetic is resonating across age groups, marking a departure from minimalist and clinical branding.

To read more about these stories, click the headlines below.

Coty CEO Sue Nabi Exits

Pupa Milano Celebrates 50 Years and Eyes Global Expansion

FIRN Bets on Science and Organic Marketing in Cosmetics

Beauty’s K-Shaped 2025 M&A: Blockbusters and Caution

The ‘Toyification’ of Beauty Is Here to Stay

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