Buzzworthy Beauty Insights Vol 189 Prestige Jefferies Weekly Beauty Reports

USA | Cosmetics, Household & Personal Equity Research Care August 14, 2026

Buzzworthy Beauty Insights Vol 189: Prestige Jefferies Weekly Beauty Reports Makeup Key to Watch into 2H26 Buzzworthy Beauty Industry Insights - Vol 186 In this edition of our Buzzworthy Beauty Industry Insights, we highlight key Buzzworthy Beauty Industry Insights - Vol headlines: Prestige makeup was a standout in Cosmetify's 1H26 top beauty 187 brands index, aligning with ICOS EPS commentary supporting further makeup Buzzworthy Beauty Industry Insights - Vol accel in 2H26; Cosmetify called out Marc Jacobs Beauty relaunch as key to 188 watch. In fragrance, headline Q2 supplier results were mixed, but underlying category fundamentals remain healthy.

• (Launch) Tower 28 launched its first foundation, set to debut globally at Sephora & Mecca in Australia on Aug 20th • (Cap Mkts) Gorgeous Collective acquired fast-facial concept "Clean Your Dirty Face" as it sets out to build a portfolio of franchised beauty & wellness businesses • (Exec) M.ph Beauty named Kira Jackson CMO

Makeup Momentum Builds; Prestige & K-Beauty Leaders Gain Share: Cosmetify's Mid-Year Index ranked Huda Beauty as the industry's hottest beauty brand, followed by Kylie Cosmetics and MAC. K-beauty remains a key growth driver, with Medicube's searches +123% Y/Y to >1.5M searches/ month; however, some viral TikTok-led brands have begun to slow amid rapid trend turnover (e.g., TirTir ranked #1 in '25, fell to #41 in 1H26). Prestige beauty is also gaining momentum, with five luxury brands now represented in Cosmetify's top 50. Cosmetify identified the Marc Jacobs Beauty relaunch as a brand to watch into 2H, citing its potential to reignite enthusiasm for prestige makeup. Broadly, these trends align with ICOS mgmt commentary that makeup momentum strengthened through Q2 and into summer, with order trends & customer forecasts supporting further accel in 2H26, particularly across Western prestige brands (note here).

Fragrance Growth Normalizing, Fundamentals Remain Healthy: While Q2 supplier results were mixed, underlying category fundamentals remain healthy. ICOS noted that the fragrance mkt cont to trend above expectations, suggesting innovation activity and brand investment remain healthy (see note here). Givaudan's LFL Fine Fragrance growth slowed to +5.0% in 2Q26 (vs +9.6% in 1Q26 & +18.3% in FY25), a sharper-than-expected decel, though mgmt emphasized underlying demand trends remain constructive (see note here). Symrise's Fine Fragrance sales declined -MSD% on timing rather than underlying customer engagement, which mgmt noted remained strong. Meanwhile, DSM-Firmenich posted +DD% LFL fine fragrance growth in 1H, fueled by balanced exposure across global & regional customers. Co is targeting a 50/50 mix between global & local customers (vs 60/40 today) via increased investment in regional accounts. ICOS is covered by Molly Wylenzek; DSM-Firmenich, Givaudan, & Symrise are covered by Marcus Dunford-Castro.

Hair Health Gains Momentum as Consumer Concerns Rise: Per Euromonitor, the number of scalp serums on the market has increased >3x between 2022-2025, while scalp health rose to the 4th most-desired haircare benefit in 2026. Growing consumer focus on stress, GLP-1-related hair loss concerns, hormonal changes, and longevity is accelerating demand for scalp health solutions. Per Euromonitor, innovation in medical hair loss treatments is slowing, with dermatological topical hair Sydney Wagner * | Equity Analyst loss products expected to grow ~4% in 2026; much of the category's momentum is shifting toward |

beauty-led solutions such as scalp serums, supplements, and targeted treatments. Importantly, Katie Elders * | Equity Associate consumers are increasingly taking a multi-product approach to hair loss, creating opportunities |

Please see analyst certifications, important disclosure information, and information regarding the status of non-US analysts on pages 4 - 10 of this report. * Jefferies LLC / Jefferies Research Services, LLC

Cosmetics, Household & Personal Care Equity Research August 14, 2026

across both mass and premium price points, with accessible products driving adoption and higher- end…