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Did anyone ever tell you makeup has high margins?INTL

Did anyone ever tell you makeup has high margins?

SPAC-tacular alert! Former executives of L’Oréal (OR) want to make sure you’re worth it with a $1.2b SPAC merger with Waldencast (WALDU). With the global market making headlines on cruelty-free testing by cosmetic brands, coupled with the vegan trendsetting lifestyle, Waldencast wants to make sure that your makeup decisions come cruelty-free.

This is why the new company will be acquiring vegan makeup brand Milk Makeup and skincare startup Obagi. Looks like Sephora will need to protect its market share with more buy-one-get-one offers.

why it matters

With more and more woke makeup brands killing it financially — such as The Honest Company's (HNST) awesome recent earnings — would this signal a move from long-standing brands like L’Oreal to go more green?