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Lauren Sherman, Rachel Strugatz & Sarah Shapiro
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Weekdays (Thursday is an Inner Circle exclusive)
The ultimate fashion industry bible, offering incisive reportage on all aspects of the business and its biggest players. Anchored by preeminent fashion journalist Lauren Sherman, Line Sheet also features veteran reporter Rachel Strugatz, who delivers unparalleled intel on what’s happening in the beauty industry, and Sarah Shapiro, a longtime retail strategist who writes about e-commerce, brick-and-mortar, D.T.C., and more.
THE LATEST ARTICLES
Rachel Strugatz
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November 5, 2025
Hold, Sell, Acquire: Estée Lauder Companies Edition
Estée Lauder boss Stéphane de La Faverie seems to have ushered in a new era of common-sense leadership and fiscal responsibility. But what if he took a page from Kering’s Luca de Meo and did something radical, like sell off the brands diverting attention from the priority businesses?
Rachel Strugatz
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October 29, 2025
On the Rhode
A recent S.E.C. filing from Rhode’s new parentco revealed surprising new financial details about Hailey Bieber’s lip gloss juggernaut. But the more salient takeaway was what it seemed to signal about E.l.f.’s anxieties regarding the growth trajectory of its new portfolio company.
Rachel Strugatz & Sarah Shapiro
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October 22, 2025
The LVMH-Fenty Divorce & ShopMy’s $1.5B Valuation
News and notes on LVMH’s decision to dump its 50 percent stake in Rihanna’s Fenty Beauty, what ShopMy’s $70 million raise portends for the affiliate marketing wars, and the juxtaposition between the designer skirt revival and the latest fall retail data.
Rachel Strugatz
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October 22, 2025
Kering Beauté & The Beast
Inside C.E.O. Luca de Meo’s decision to abruptly abandon the company’s long-term beauty strategy—and what it means for the L’Oréal regime.
Rachel Strugatz
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October 15, 2025
Beauty’s New Goldfinger V.C.
Prelude Growth’s Alicia Sontag has carved out a sweet spot in beauty, investing in ascendant but proven brands just as they’re hitting their stride, and then applying her retail expertise and post-D.T.C. strategy to help them thrive. In the small world of beauty investors, she’s the new queen.
Rachel Strugatz
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October 8, 2025
A Skincare Star Is Born
Ulta and Sephora have spent months locked in a pitched battle to land an exclusive partnership with Point of View, the D.T.C. skincare brand from self-taught makeup artist Mikayla Nogueira. The war is now over, and there are emerging signs about which direction the brand will go next.
Rachel Strugatz
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October 1, 2025
Coty Sell-Off Murmurs & Glossier 3.0 Begins
News and notes on the divestiture chatter swirling around Coty, and Glossier’s buzzy follow-up to its cult-favorite Cloud Paint blush.
Rachel Strugatz
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October 1, 2025
“Get Me Dr. Levine!” Part II
Dr. Steve Levine, the man behind Kris Jenner’s new mug, is the most sought-after facelift magician of our time. But there are also plenty of Mini Levines vying for the clients who can’t afford him—or can’t get a referral.
Rachel Strugatz
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September 24, 2025
Sephora & Ulta’s Mikayla Showdown
Ulta and Sephora are squaring off for a makeup artist–led brand that everyone thinks could be the next Rhode. While Ulta is the sentimental favorite—brand founder Mikayla Nogueira worked there once upon a time—can it beat Sephora’s renowned brand-building?
Rachel Strugatz
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September 17, 2025
The Hailey Bieber Blitzkrieg
Backed by a billion dollars from E.l.f., Hailey Bieber’s Rhode has finally arrived at Sephora and is taking the beauty business—and its many skincare competitors—by storm. Meanwhile, Sephora itself is pivoting to favor newer, TikTok-favored labels, showing that even legacy brands aren’t forever.
