Valtech took part in a Live Intelligence session hosted by Journal du Luxe and EFAP, dedicated to the evolving dynamics of the beauty industry.
As part of this session, Pascal Malotti, Global Retail Strategy Lead at Valtech, shared a perspective on how a new generation of beauty brands is emerging. His framework, “From Product to Protocol”, highlights the structural changes behind some of the most successful brands today and offers a way to understand how the model is evolving.
A new model is emerging in beauty
The beauty industry has entered a new phase. Growth is no longer driven by celebrity, product proliferation or marketing noise, but by something more structured and deliberate.
Recent success stories make this shift clear. Rhode reached $212 million in revenue with just ten products. Rare Beauty built a $2.7 billion valuation by anchoring its brand in mental health. Augustinus Bader started with only two creams and established itself through scientific credibility rather than visibility.
What these brands have in common is not their aesthetic, their audience, or even their price positioning. It is the way they are built.
They are structured from the outset around a clear idea, a controlled offer, and a coherent experience. That structure allows them to grow without losing their meaning. Looking at these examples, five dynamics help explain how the model is evolving.
1. A belief before a catalog
The strongest beauty brands today do not start with a product roadmap. They start with a point of view.
In the case of Rhode, this perspective is visual. The idea of “glazed skin” defines the expected result before any individual product is considered. Rare Beauty approaches it from an emotional angle, with a strong focus on mental health and self-acceptance. Augustinus Bader builds its legitimacy through science, with its TFC8 technology rooted in cellular regeneration.
In each case, the product comes after the idea. This reverses the traditional model of beauty, where brands expand catalogs first and define positioning later.
Today, coherence starts with a clear and singular belief, one that can be expressed visually, scientifically, or emotionally. Without that foundation, expansion tends to create confusion rather than value.
2. Constraint as a signal of value
Another common point between these brands is constraint.
Brands like Rhode or Augustinus Bader demonstrate that limiting the number of SKUs can strengthen both identity and performance. Hermès Beauty followed a similar path, starting with lipsticks before expanding progressively into skincare. Even Dior, with Rouge Premier, applies scarcity through limited quantities and exceptional craftsmanship.
The logic is simple: curation signals intention.
By contrast, brands that pursue aggressive extension strategies have often diluted their value. The multiplication of product lines can create short-term visibility, but it weakens long-term desirability. In a market where consumers are already exposed to a large number of options, clarity becomes a differentiating factor.
3. Redefining the role of the founder
The way founders are involved in beauty brands has changed.
In the past, many celebrity brands relied on licensing models. The founder was a face on a product, often disconnected from its formulation or long-term direction. The consumer was treated as a fan.
Today, founders such as Hailey Bieber, Selena Gomez, or Victoria Beckham are directly involved in ownership, product design and brand direction. They shape what is created, how it is used, and how it is presented.
This creates continuity between what the brand says and what it delivers. For consumers, especially younger generations, that alignment matters more than simple endorsement.
4. The product as a social and cultural object
Products are no longer just functional items. They are part of a broader context that includes daily habits, social usage, and cultural signals.
Rhode’s lip case, combining a phone accessory with a beauty product, shows how beauty can integrate into everyday life while driving strong commercial results. Hermès uses waiting lists to reinforce desirability. Rare Beauty builds communities around shared values rather than follower counts. Dior positions certain products as collectible objects.
At the same time, the way these products are experienced is becoming more connected. Store, app, social platforms and AI-driven interactions are increasingly linked.
What used to be separate touchpoints is now part of a continuous journey. Value comes not only from the product itself, but from its ability to exist across different contexts.
5. From product to protocol
The most significant change lies in how the offer is organised: beauty brands are moving from selling products to designing protocols.
A product is an isolated item. A routine organizes usage. A protocol creates a coherent system. And beyond that system lies a world, one that consumers can enter and identify with.
This evolution is already visible across the industry. Rhode promotes “pigmented skincare” where products merge with the skin rather than covering it. Augustinus Bader structures its offer as integrated routines. Niche perfumery expands from individual fragrances to complete sensory rituals involving layering and complementary products.
Over time, these routines become more than usage guidelines. They form coherent systems that define how the brand fits into everyday life.
What this means for beauty brands
The brands gaining traction today are not necessarily the largest or the most expensive. They are the ones that manage to stay coherent as they grow.
This coherence comes from a clear starting point, disciplined choices, strong involvement from founders, and a consistent way of connecting products, usage and experience.
As these elements come together, the brand becomes easier to understand and easier to adopt. It moves from a collection of products to something more structured and more durable.
For beauty brands, the challenge is less about launching more products and more about building something that holds together over time.
Watch the replay of the live intelligence session by clicking here.