The Cosmetics Brand Ownership Map: Who Owns Every Major Makeup Brand in 2026

Four Companies, One Makeup Bag

Open your makeup bag. Count the brands. Now count the corporate parents. Chances are, most of the brands inside trace to just four companies: L'Oreal, Estee Lauder, LVMH, and Coty.

The cosmetics industry is one of the most brand-dense categories in consumer goods. Sephora alone carries hundreds of brands. But the ownership structure behind those brands is far more concentrated than the colorful displays suggest. Here is who owns every major makeup brand in 2026.

The Big Four

L'Oreal (France) - World's Largest Beauty Company

Revenue: ~$44 billion (2025) Headquarters: Clichy, France Stock: Euronext: OR Controlling family: Bettencourt Meyers family (~35%)

L'Oreal is the largest beauty company in the world, operating across four divisions:

L'Oreal's strategy is to own brands at every price point: Maybelline at the drugstore, NYX at Ulta, Lancome at department stores, and YSL Beauty at Sephora. One company, four price tiers, four different shopping occasions.

Estee Lauder Companies (USA)

Revenue: ~$15 billion (2025) Headquarters: New York City Stock: NYSE: EL Controlling family: Lauder family (~40% voting control)

Key fact: MAC Cosmetics, one of the most iconic makeup brands in the world, famous for its inclusive shade range and professional artistry heritage, is owned by the same company that makes La Mer ($300+ face cream) and The Ordinary ($7 serums). The price range spans from $7 to $500+ within a single corporate parent.

LVMH (France) - Luxury Conglomerate

Beauty Revenue: ~$9 billion Headquarters: Paris, France Controlling family: Arnault family (Bernard Arnault, world's wealthiest person)

Fenty Beauty is the highest-profile LVMH beauty brand. Launched in 2017 as a joint venture between Rihanna and LVMH's Kendo division, Fenty disrupted the industry with 40+ foundation shades at launch (now 50+). Fenty Beauty generates approximately $500+ million in annual revenue. LVMH is the majority owner; Rihanna retains a significant stake.

Coty Inc. (USA)

Revenue: ~$6 billion (2025) Headquarters: New York City Stock: NYSE: COTY Major shareholder: JAB Holding Company (~50%)

The Kylie story: Coty acquired 51% of Kylie Cosmetics in 2019 for $600 million, valuing the brand at $1.2 billion. The deal was controversial: Forbes later revised Kylie Jenner's billionaire status, and Kylie Cosmetics' revenue declined post-acquisition. Coty has since written down the value of the acquisition.

Other Notable Cosmetics Owners

Shiseido (Japan)

Revlon (Emerged from Bankruptcy)

• Revlon (mass-market color cosmetics)
• Elizabeth Arden (prestige beauty)
• Almay (hypoallergenic beauty)

E.l.f. Beauty (Independent)

• e.l.f. Cosmetics (core brand)
• e.l.f. Skin (skincare extension)
• Well People (clean beauty, acquired 2020)
• Keys Soulcare (Alicia Keys partnership)
• Naturium (skincare, acquired 2023, $355M)

P&G and Unilever

Both CPG giants participate primarily through skincare rather than color cosmetics:

The Complete Ownership Cheat Sheet

The Sephora and Ulta Factor

Sephora (owned by LVMH) and Ulta Beauty (independent, NYSE: ULTA) are the two dominant specialty beauty retailers. Sephora's LVMH ownership means the retailer has a financial incentive to feature LVMH-owned brands prominently, though it also carries competitors' products.

Ulta carries both prestige and mass-market brands, making it the broadest beauty retailer. Ulta's independence means it has no inherent brand favoritism, though shelf space negotiations and promotional partnerships favor the largest companies (L'Oreal, Estee Lauder) due to their marketing budgets.

Frequently Asked Questions

Who is the biggest makeup company?

L'Oreal is the world's largest beauty company overall (~$44B revenue). In color cosmetics specifically, L'Oreal (Maybelline, NYX, Urban Decay, Lancome) and Estee Lauder (MAC, Clinique, Too Faced) are the two largest.

Does Rihanna own Fenty Beauty?

Rihanna co-owns Fenty Beauty with LVMH. The brand was created as a joint venture with LVMH's Kendo division. LVMH holds the majority stake; Rihanna retains a significant minority stake and creative control.

Is e.l.f. owned by a bigger company?

No. E.l.f. Beauty (NYSE: ELF) is an independent publicly traded company. It is one of the few major cosmetics brands not owned by L'Oreal, Estee Lauder, LVMH, or Coty.

Who owns MAC Cosmetics?

MAC (Make-up Art Cosmetics) is owned by The Estee Lauder Companies. Estee Lauder gradually acquired MAC between 1994 and 1998.

The Bottom Line

The makeup counter offers hundreds of brands across every price point, aesthetic, and formulation. But approximately 75% of the prestige cosmetics market is controlled by four companies: L'Oreal, Estee Lauder, LVMH, and Coty. Understanding this concentration helps consumers see through the brand diversity to the corporate structure underneath, whether that changes their purchasing decisions or simply makes them better-informed beauty buyers.

Explore beauty brand ownership on WhoBrands or browse beauty brands.

Sources

1. L'Oreal. Annual Report 2025. loreal.com 2. Estee Lauder Companies. Annual Report 2025. 3. LVMH. Annual Report 2025. 4. Euromonitor. "Color Cosmetics: Global." 2025. 5. Beauty Inc/WWD. "Top 100 Beauty Companies." 2025.

All brand ownership data verified through WhoBrands.com's research methodology. Last updated: February 9, 2026.