The Barefaced Podcast

Not that long ago, Australia had more women's magazines per capita than almost any comparable market. Australian Women's Weekly, Vogue, Dolly, Cleo, Cosmopolitan, Harper's Bazaar, Elle, Girlfriend, Marie Claire, Grazia. Titles that shaped culture, launched careers, and functioned as the single most powerful distribution channel beauty brands had access to.That ecosystem is largely gone now. In May 2020, Bauer Media shut down most of its Australian titles in the middle of a pandemic, laying off the majority of staff over a single Zoom call. Titles that had been publishing for decades closed within weeks.In this episode, I sit down with Kate Lancaster — a beauty journalist who was on that Zoom call. Kate's words you have undoubtedly read, whether in the pages of Elle, Grazia, or on a billboard for your favourite sunscreen brand. Together, we unpack how the magazine business was structured, how it made money, why it stagnated creatively, and what the collapse actually looked like from inside a newsroom. We also look at what comes next — from the rise of brand Substacks to why journalists might be the most valuable hires in beauty right now.A series of images, references, graphs and visual aids have been created to help narrate this story. You can find them at barefaced.substack.com. And you can find Barefaced everywhere else at beacons.ai/barefaced. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Before Sephora, beauty retail was a very different world. Products sat behind glass, and a single sales rep, loyal to just one brand, controlled how a customer experienced beauty.Today, Sephora has completely rewritten that experience. It is now the largest beauty retailer in the world, generating over 17 billion U.S. dollars in annual sales and holding immense power over which brands rise and which brands fade. But how did a 60-year-old French company become an American powerhouse? What happened that allowed Sephora to rise from a disruptor to the most powerful player in beauty retail?In this episode, we’re diving into part one of Sephora’s story. (Apologies for the late upload, but this turned out to be a much bigger story than we expected.) We’ll unpack how Sephora began, and how it went on to take over the world. Next week, we’ll zoom in on the past decade and take a closer look at the wider industry to understand what Sephora’s position means for brands today, and where it’s headed.A series of images, references, graphs and visual aids have been created to help narrate this story. You can find them at barefaced.substack.com. And you can find Barefaced everywhere else at beacons.ai/barefaced. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

When we talk about the frontiers of beauty, we usually think of France, the United States, South Korea, or China. But a new frontier is emerging further East: the GCC. A group of six countries in the Middle East that are shaping the future of beauty.You’ve probably heard the buzz around Dubai, but the GCC as a whole is worth paying attention to. The region already represents 43% of the global luxury market. And unlike much of the world, where personal luxury spending declined by 2% in 2024, the GCC grew by 6%. Fashion may dominate overall sales, but beauty is the standout, growing 12% year-on-year and quickly becoming the fastest-rising category.In today’s episode, we’ll give you a crash course on beauty, luxury, and the GCC. We’ll explore where this growth is coming from and how brands are positioning themselves to ride this wave — so you have the insights you need to do the same.A series of images, references, graphs and visual aids have been created to help narrate this story. You can find them at barefaced.substack.com. And you can find Barefaced everywhere else at beacons.ai/barefaced. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

When you think of big beauty, L’Occitane probably doesn’t come to mind. It’s a nearly fifty-year-old French brand that, to me, represented nothing more than dated packaging and one fantastic hand cream. I’d always associated it with a dying customer base–and I mean that quite literally.This brand-turned-group is a quiet powerhouse with a fascinating story. But it’s one the company has mostly told itself, so polished and tightly edited that I never felt compelled to pay attention. That was until a listener of this very podcast, an equity analyst no less, shared some recent financial reports with me. They read like a gripping episode of reality TV… if only they weren’t buried under layers of finance jargon.So in this episode , we’ll unpack the untold story of L’Occitane: from its unlikely founding, to the bold bet on Asia that transformed the business, and finally, to the challenges they faced after going public.A series of images, references, graphs and visuals aids have been created to help narrate this story. You can find them at barefaced.substack.com.You can find Barefaced everywhere else at https://beacons.ai/barefaced . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Despite being the 10th largest economy in the world, Canadian beauty remains a mystery. For a country that birthed giants like MAC and Deciem (The Ordinary) and is a neighbour to the largest beauty market in the world (The US), the lack of conversations around Canadian beauty is nothing short of shocking.After a four-month hiatus, The Barefaced Podcast is back and diving into why this deeply complex and critically under-reported market. Today we will be diving into why this market deserves much more of our attention by breaking down what the Canadian beauty landscape is like, geopolitical and retail shifts affecting the industry, and Canadian beauty on a global stage.A series of graphs, visual aids, and references have been created to help narrate this story. You can find them at https://barefaced.substack.com/ . You can find Barefaced everywhere else at - https://beacons.ai/barefaced . This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Another person talking about tariffs… I know! But this episode is different. Trump’s tariff announcement sent shockwaves through the markets—the S&P 500 dropped 4.9%, the second-biggest daily point loss in history. And beauty felt it too; Elf Beauty’s stock fell by 23.4% and Estée Lauder’s by 15.4%. But what does all this mean for the long-term future of beauty?In this episode of The Barefaced Podcast, that is what we are going to answer. First, we’ll get clear on what’s actually happening, why different countries are being charged different rates, and how Trump’s economic advisors came up with those numbers. Then, we’ll zoom in on the beauty industry—how are international beauty businesses affected, and equally, brands already "Made in the USA"? Finally, we’ll put it all together to explore what this means for the future of beauty.Ultimately, this isn’t a story about tariffs, it’s a turning point for beauty’s entire supply chain. A series of graphs, visual aids, and references have been created to help narrate this story. You can access them at barefaced.substack.comYou can find Barefaced everywhere else - https://beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

It seems like almost every day there’s a new beauty brand announcing they've secured funding. Why has there been such a surge?Venture capital (VC) first took off in the tech industry in the 90s, and expanded into consumer packaged goods (CPG) in the 2010s, but why do VCs love beauty brands and why do beauty brands love them back? What is it about the beauty sector that has attracted such significant investment, and what does this mean for the future of the industry? In this episode of The Barefaced Podcast, I speak with Ultra Violette founders Bec Jefferd and Ava Chandler-Matthews about their recent $15 million raise, and what it means for their growth. I also chat with NuFace cofounder and CEO Tera Peterson, who built a cult beauty device brand without taking a cent of outside funding.We unpack the dynamics of VC in beauty, the pros and pitfalls of raising capital, and what this growing trend signals for the future of the industry.A series of graphs, visual aids, and references have been created to help narrate this story. You can access them at barefaced.substack.comYou can find Barefaced everywhere else -https://beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Luxury brands spend years developing products—MCo Beauty swoops in and replicates them in weeks. And the results speak for themselves.Originally known as ModelCo, an Aussie drugstore brand focused on tanning, MCo Beauty reinvented itself by recreating viral beauty products with eerily similar packaging—at a fraction of the price. By strategically navigating trademark laws, the brand has grown from AU$10M in revenue in FY20 to a staggering $330M in FY25.In February, founder and CEO Shelley Sullivan cashed out, selling her stake in a deal that valued MCo Beauty at over a billion dollars. But how did they pull it off? How is any of this legal? And what’s next for the ultimate dupe brand?In this episode of The Barefaced Podcast, we break down the rise of MCo Beauty.A series of graphs, visual aids, and references have been created to help narrate this story. You can access them at barefaced.substack.comYou can find Barefaced everywhere else -https://beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

In recent years, the global embrace of Japanese culture has been undeniable. From streetwear and homewares to anime and video games, Japan's influence is everywhere. So why is Japanese beauty (J-beauty) still flying under the radar while Korean beauty (K-beauty) has taken the industry by storm?This episode is a deep dive into the Japanese beauty market. We start by unpacking the geopolitical and economic factors that have shaped the globalisation of K-beauty versus J-beauty, then break down their distinct differences. With this foundation, we analyse three key areas: consumer trends and behaviours, product, and retail.A series of graphs, visual aids, and references have been created to help narrate this story. You can access them at barefaced.substack.com/You can find Barefaced everywhere else here–https://beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

It’s the start of Fashion Month—the pinnacle of luxury, where fashion houses invest millions into runway shows to reinforce their brand identity. But how does this impact their beauty divisions?This episode explores the role of beauty within luxury fashion houses. Why do these brands expand into beauty? How does the business model differ from fashion, and how do they compete in an increasingly saturated beauty market? From shifting ownership structures to evolving retail strategies, we break down how luxury fashion brands can compete in beauty in 2025.This episode is supported by a series of graphs and visual aids to help narrate this story. You can access those resources at barefaced.substack.com/You can find Barefaced everywhere else here–https://beacons.ai/barefacedRecommended reading - https://www.businessoffashion.com/articles/beauty/luxury-brands-buying-back-their-beauty-lines/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Thanks to social media, beauty trends often go global—but not in the UK.While interest in makeup in Canada, Australia, and the US has slowed down since the pandemic, the "baddie makeup" continues to trend in the UK. Why does this trend stand strong, and what does it reveal about Britain’s beauty scene?In this episode of The Barefaced Podcast, we dive into the cultural, economic, and social factors that set the UK apart, from local beauty brands taking over to the rise of TikTok Shop.This episode is supported by a series of graphs and visual aids to help narrate this story. You can access those resources at barefaced.substack.com/You can find Barefaced everywhere else here–https://beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Beauty shopping in the UK is anything but intuitive. You can find luxury brands at Boots, a pharmacy, or Harrods, a luxury department store, or shop them online at Look Fantastic, an e-commerce retailer. But why is the market so fragmented?Over the last five years, online beauty retail boomed but has faced rising customer acquisition costs. Companies like Walgreens Boots Alliance (owner of Boots) have struggled, while luxury department stores have doubled down on beauty. To top it off, after a 17-year hiatus, Sephora re-entered the market by acquiring Feelunique to expand their physical presence.In this episode, we break down these complexities and offer insights on how to navigate this competitive and ever-evolving beauty retail market.This episode is supported by a series of graphs and visual aids to help narrate this complex story. You can access those resources at barefaced.substack.com.You can find Barefaced everywhere else here—beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

The rise of Glossier wasn’t just a success story; it became the blueprint for modern beauty branding. While much of the conversation surrounding Glossier today focuses on the brand’s current state, this episode dives into the marketing firsts that made Glossier a cultural phenomenon and shaped the beauty industry as we know it.From pioneering the shelfie, founder-driven content, and user-generated campaigns to transforming social media engagement and popularising beauty pop-ups, Glossier created a playbook that countless brands—Merit, Saie, Kosas, Tower 28, Summer Fridays, Rhode, and more—have drawn from.In today's episode, we unpack how Glossier redefined what it means to be a beauty brand, evolving it into something that feels more like a social club than a business, and explore the enduring impact of The Glossier Effect.You can find barefaced everywhere here — beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

It has been well established that consumers are fed up with celebrity beauty brands. So, why do some of these brands still go on to achieve huge success?In this week’s episode, we first dive into the business of celebrity beauty brands, examining how they differ from regular startups, beyond just the access they have to personal fame. We then explore Reddit sentiment data to understand how consumers feel about beauty brands in 2024 and how these opinions have shifted over the past decade. We also look into the reputations of individual brands to uncover why some soar while others fail.Finally, we answer the question: What’s next for celebrity beauty brands?You can find Barefaced everywhere here—beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

From the $800 Dyson Airwrap to the $700 Dr. Dennis Gross LED Face Mask and $400 NuFace, luxury beauty devices aren’t just getting attention—they’re flying off shelves.The rise of high-tech beauty gadgets didn’t happen overnight. In fact, the signs were there long before the pandemic. But how did these devices become so popular? Why are consumers willing to spend so much on them? And if this is what shoppers want now, what’s next?We’re breaking it all down in this week’s episode.Subscribe to Barefaced on Substack for all the latest beauty insights and data! Check out Barefaced everywhere else here—beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

To many, the undeniable presence of Korean skincare seems to have come out of nowhere, but in reality, its rise has been anything but random. In this episode, we explore how Korean skincare stands apart from Western products and the story behind its global takeover.Discover the unique philosophies, innovative ingredients, and viral moments that propelled K-beauty to mainstream success. Plus, we break down the impact of social media trends like "glass skin" and why K-beauty’s affordability was a game-changer in the US market.All that and more in today’s episode!Subscribe to the newsletter for all the latest beauty insights and data. Otherwise, you can check out Barefaced on Instagram and everywhere else here—beacons.ai/barefaced This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

Australia's beauty market flew under the radar until Jo Horgan changed everything by launching Mecca in 1997. By the time Sephora arrived in 2014 to claim its share, it was far too late. But how did Mecca build such a stronghold in the Australian market, why did Sephora take so long to set up shop? Plus, we deep dive into the latest TikTok fixation of which retailer offers more value. We take a look at the data to understand, objectively, which is truly more popular. That and so much more in today's episode!If you enjoyed this episode subscribe to the newsletter for all the latest beauty insights and data.Otherwise, you can check out Barefaced on Instagram and everywhere else here. Key Figures:Only 41.2% of Sephora’s US brands are available at Sephora in Australia.45.6% of Sephora’s US brands are available at Mecca in Australia.61% of Mecca’s brands are exclusives.76.8% of beauty revenue in 2023 was generated offline (Statista). This is projected to decline by 4.9% by 2027.Analysing 2,500 Reddit comments for each search term revealed:"Mecca Beauty loop" has a 61.2% positive sentiment and 16.1% negative sentiment"Sephora Beauty Insider" has a 56.7% positive sentiment and 23% negative sentiment"Sephora Australia Beauty Insider" has a 48.4% positive sentiment and 21.1% negative sentiment Hosted on Acast. See acast.com/privacy for more information. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com

In the past decade, shifts in advertising laws have continuously reshaped the beauty business. What did the industry look like before #ad was enforced? How did brands dodge disclosure rules, and when did we stop trusting influencer beauty reviews? Despite its significance, influencer-related legislation rarely gets spoken about. In 2024, authorities are finally catching up with the impact of influencers—great news for consumers, but a challenge for marketers. In this episode, we explore how brands are navigating today’s regulations, the missteps to avoid, and how to build consumer trust while maximizing reach.If you enjoyed this episode, don't forget to follow the podcast and subscribe to our newsletter for all the latest beauty insights and data - https://barefaced.substack.com/Otherwise, you can check us out everywhere else https://beacons.ai/barefacedRESOURCES:University of Manouba, Youtube vlogger's popularity and influence: The roles of homophily, emotional attachment and expertise, https://www.sciencedirect.com/science/article/pii/S0969698919303911#:~:text=In%20turn%2C%20the%20vlogger's%20popularity,effect%20on%20the%20vlogger's%20popularity.ACCC, Subscribe to media releases, https://www.accc.gov.au/about-us/news/subscribe-to-media-releases-and-speechesSocial Law Co, Social Media Lawyers, https://www.instagram.com/sociallawco/ Hosted on Acast. See acast.com/privacy for more information. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit barefaced.substack.com