LVMH is exploring the sale of heritage cosmetics brand Make Up For Ever as part of a broader shake-up of its beauty division, reflecting weakening global demand for makeup. The group is also reportedly considering divesting skincare label Fresh and its stake in Fenty Beauty — valued between 1.5 billion euros ($1.56 billion) and 2.5 billion euros ($2.60 billion) — as it refocuses on stronger performers such as Dior and Guerlain. Make Up For Ever, acquired in 1999, has struggled with years of losses and stagnant annual sales of around 300 million euros ($312 million). LVMH’s fragrances and cosmetics sales fell 3% YoY in 2025.

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