BoF Team

Despite a raft of attractive, buzzy brands beginning sales processes, many of beauty’s big conglomerates didn’t open their wallets this year.

Even as wellness fads come and go, the year 2024 revealed a few salient shifts in the industry, including a growing focus on longevity, widespread adoption of GLP-1 agonist medicines and a burgeoning men’s market that points to longer-term evolution.

This year, marketing efforts for everything from skincare to fragrance targeted new cohorts — Gen Alpha, male athletes, pet owners, “MomTok” — and across more channels than ever.

The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be.