“Artists, Experts, Absolute Legends,” trumpet signs all over Sephora, with close-up shots of Mario Dedivanovic, Gucci Westman, Patrick Ta, Mary Philips and Danessa Myricks, among others, and their signature products.

In recent years, these social media savvy makeup artists, in addition to other start-ups in color cosmetics like Selena Gomez’s Rare Beauty and Merit, have made waves in the prestige color category, taking market share from heritage brands by connecting with consumers in new ways, especially among a younger audience.

But while such brands have brought buzz and excitement to the category, the hype has yet to pay off, with the prestige makeup category largely still waiting for its wider M&A moment at a time when the industry has witnessed a significant thawing of acquisition

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