Former L’Oréal execs set out to build a $1.2 billion beauty empire. Now all that’s left is Milk Makeup, and its sales just fell 57%

Fortune•Sun, Oct 4, 2026, 10:37 AM•2 min read

Waldencast sold Obagi, lost its founders to the buyer, and is leaving Nasdaq. What's left is a makeup brand whose sales fell by more than half.

Source: [Fortune](https://fortune.com/2026/10/04/former-loreal-execs-milk-makeup-sales-waldencast/)

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