Kosas Taps Bankers to Explore Sale as Beauty Startup M&A Heats Up

The Gen Z-favorite cosmetics brand Kosas has hired bankers to explore a potential sale, according to two people familiar with the matter, signaling that a recent wave of beauty startup sales is likely to keep gaining steam.

Dealmaking among beauty companies has remained relatively resilient even as mergers and acquisitions have slumped broadly, with big beauty conglomerates like Shiseido and Unilever snapping up trendy young brands that have gained avid social media followings. Another beauty startup, the Greycroft Partners–backed luxury cosmetics line Merit Beauty, is preparing to formally tap advisers in the coming weeks to run a sale process, a person familiar with the plans said. A Merit spokesperson declined to comment.