Beauty U.S.: Indie Index

Digital advances have lowered the barriers to entry for independent beauty brands, leading to record-setting levels of investment activity over the past several years. However, as valuations soar above $1 billion, it is unclear how long this buying frenzy can continue. L2’s Indie Index report evaluates the digital strategies of the top indie brands in the U.S., identifying what is replicable — and what is not — for established players.