Waldencast has sold Obagi Medical, the 38-year-old professional skincare brand founded by dermatologist Zein Obagi, to private equity firm Bridgepoint Group for $460 million as the lines between beauty, aesthetics and wellness continue to blur.

True Beauty Ventures believes beauty’s next generation of winners will be brands with deep category authority, clinically informed positioning, disciplined growth and focused product assortments rather than sprawling lifestyle ecosystems.

For beauty brands chasing growth on TikTok Shop, the algorithm isn’t the main challenge. The economics are.