Welcome in, today is Tuesday, October twentieth, and we begin with Reuters reporting on what weight-loss drugs may be doing to the fragrance shelf. A study of GLP-1 users in the United States found they spent twenty-six percent more on fragrance than the typical shopper. That figure comes from the market researcher NIQ, reported by Reuters, which spoke with eight fragrance manufacturers and brands about whether the drugs are changing what consumers want to smell. Givaudan, IFF, CPL Aromas and L'Oreal all told that reporting they have explored the link, and all four, alongside four scientists, stressed that more research is needed. Givaudan said preferences can flip, with some loved scents turning repellent, and that the net effect it observed was more interest in fragrance overall. Per the same reporting, Mintel now ranks gourmand and edible as the second-largest group for product innovation behind floral, at twenty-four percent, up from nine percent two years earlier. That is the figure that reads straight through to briefs and formulation pipelines. Industry reaction leans cautious on the causal claim, and a recurring read is that this is discretionary spend reallocating rather than a scent effect. Also today, institutional capital has entered nail care. Cosmetics Business reports that Manucurist, the Paris-founded nail brand, has taken a minority investment from the European private equity firm Inflexion. Per that account, the stated plan is international growth with a particular focus on the United States, further retail rollout, continued growth in digital and marketplace channels, and investment in team, systems and new product development. Inflexion is the firm that backed Medik8 before its sale to L'Oreal in 2025, which gives this deal a visible template for how a founder-led brand gets scaled. That same reporting notes Manucurist's hero product, Green Flash, launched in 2019 and now sells in more than forty countries. Some practitioners flag consistent product education as the hard part when a technique-dependent at-home category scales across several channels at once. Separately, Dolce and Gabbana Beauty is targeting double-digit growth in 2026 and up to seventy standalone boutiques worldwide. Cosmetics Business reports chief executive Gianluca Toniolo said beauty sales grew fourteen percent in 2025, with double-digit operating profit, and passed one billion euros in wholesale, tripling turnover in the three years since the business came in-house from a Shiseido licence. Make-up is set to go from eleven hundred points of sale to about two thousand by the end of 2026, with a first full skin care line launching. Per that account, the Americas deliver about fifty-five percent of revenue, Europe forty percent, Asia six. Brand-owned doors are being used as a growth lane next to the department stores. Industry reaction tends to treat the in-housing itself as the engine here, and a template other fashion houses may face pressure to copy. Airport shelf space is a major prestige fragrance channel, which is what makes the next item more than a pledge. Cosmetics Business reports L'Oreal Travel Retail has signed a joint sustainability-linked business plan with the travel retailer Avolta, aiming for ten percent in refillable fragrance solutions at travel hubs by 2030, alongside lower supply chain emissions and scaled circular solutions. No baseline, scope or verification method for that figure has been published. Among fragrance buyers, a recurring concern is that refill formats push a quality-control burden onto reusable hardware, with reports of discoloured and off-smelling refills and stock gaps. Now, a few more headlines moving the trade today. Global Cosmetics News reports Dermalogica has confirmed global chief executive Aurelian Lis will step down at the end of December, after ten years leading the Unilever-owned professional skin care brand. The same outlet reports Chanel is continuing its governance restructuring, with Bruno Pavlovsky stepping down from the board of directors while keeping his operational leadership role. Per WWD, Sephora has named Substance of Light, a French UV-protective skin care brand founded in 2021, winner of its first prize for emerging European brands, chosen from one hundred and fifty applicants. Cosmetics Business reports Jennifer Lawrence is launching a biodesigned hair care brand, Mes, this month, engineered by the biotech beauty company Arcaea. And finally, Cosmetics Business makes the case that bond repair is now a convenience play, with Julia Wray writing that smarter, easier launches promising faster results are moving bond building into its convenience era.