Welcome in, today is Thursday, September third, and we begin with WWD Beauty reporting that Wella has filed to go public. Wella has filed for an initial public offering, according to WWD Beauty, and the numbers inside that filing set the terms for how professional beauty gets priced. That reporting puts sales at two point nine billion dollars for fiscal twenty twenty-six, a rise of nine point two percent, with a turnaround to net income of sixty-two million dollars. The company is backed by KKR. Global Cosmetics News reports the same US filing, putting annual revenue at two point nine four billion dollars and describing a return to profit. For anyone benchmarking a professional haircare asset, that growth rate and that swing to profit become a public reference point the category has not had. Industry reaction leans toward reading the filing as a proxy for the health of professional beauty overall, with a recurring view in the trade that the category's growth drivers have moved away from traditional color toward treatment, scalp health and repair. Also today, Sephora is putting exclusive monthly product drops on TikTok Shop. WWD Beauty reports the Sephora Drop Shop pilots in the United States from September nineteenth, carrying curated products from some of the retailer's partner brands on a monthly cadence. That shifts prestige merchandising off a seasonal calendar and onto a drop schedule, which partner brands in the pilot will be planning allocation and supply against. Industry reaction leans toward reading the move as defensive rather than expansionary, with a recurring framing that social commerce has crossed from discovery into purchase, and some citing projections that platform-led beauty sales could rival the big specialty retailers' combined volume as soon as next year. A recurring practitioner view is that winning there is an assortment decision rather than a promotional one, which would make the curation of each drop the variable worth watching. Separately, Natura is bringing back a former chief executive. Premium Beauty News reports the Brazilian group announced on August thirty-first that Alessandro Carlucci will return as CEO effective October first, succeeding João Paulo Ferreira, who steps down on September thirtieth after ten years. Per that account, Natura describes the change as a planned transition designed to accelerate its next phase of growth. It follows our earlier reporting on the group's second quarter, when net profit fell eighty-two percent and Brazil lagged a growing Hispanic America. A decade of brand and channel strategy now passes to a leader who ran the company before it, and direct-selling operators across Latin America will read the appointment for how quickly that strategy gets revisited. Now, a filing that reaches every beauty brand buying retail media. Global Cosmetics News reports the Federal Trade Commission and twenty-two state attorneys general have sued Amazon, alleging it manipulated its advertising auctions and overcharged advertisers by more than twenty billion dollars since twenty nineteen. That account says the suit alleges Amazon misled roughly one point two million advertisers, including more than five hundred thousand small and medium-sized businesses. These are allegations, and Amazon has not conceded them. Practitioner reaction leans toward a correction of framing. Some who manage retail-media spend daily read the case as being about on-site search and keyword auctions rather than the video buying many assume, and a recurring concern is that advertisers holding click and cost-per-click data still could not audit what they were charged. Now, a few more headlines moving the trade today. Dollar Shave Club has acquired Truly Beauty, its first acquisition, taking it beyond men's grooming into multi-brand personal care, per Premium Beauty News. Terms were not disclosed. Beiersdorf is extending Eucerin into acne-prone skin with Dermopure Clinical Probiom8, built on a patented probiotic ingredient it calls TopiC.A, according to Cosmetics Business. Mane has acquired Cvista, a United States specialist in citrus essential oil fractions, deepening its position upstream in citrus for both perfumery and beverage work, Premium Beauty News reports. And finally, e.l.f. Beauty-owned Rhode will launch in nineteen European countries this month through Sephora, Cosmetics Business reports.