Italian regulators are investigating Sephora and Benefit Cosmetics over the apparent use of “covert marketing strategies” to sell beauty products to young girls that might be fuelling an unhealthy skincare obsession known as “cosmeticorexia”.

The Italian Competition Authority said it was looking into promotions for skincare products such as face masks, serums and anti-ageing creams that in some cases appeared to target girls under 10.

“These practices are linked to the broader issue of ‘cosmeticorexia’ – an obsession with skincare among minors,” the authority said.

The cosmetics brands, which are both owned by the French luxury group LVMH, appeared to have adopted a “particularly insidious marketing strategy”, it said. This involved using “very young micro-influencers who encourage the compulsive purchase of cosmetics among young people, a particularly vulnerable group”.

The watchdog said that its officials, with the help of the Italian financial police, had carried out inspections at the premises of Sephora Italia and other LVMH offices on Thursday.

Upmarket beauty brands aimed at women have surged in popularity among very young social media users, creating a phenomenon known as “Sephora kids” – a catch-all phrase for the intense attachment between preteen children and high-end beauty products.

The trend is driven by skincare content produced by beauty influencers – many of whom are tweens and teens themselves. Apps such as TikTok and Instagram are filled with videos of young girls and teenagers talking about skincare and makeup.

Sephora has previously sought to distance itself from this trend. Artemis Patrick, the chief executive of Sephora North America, stated in a 2024 interview that “we do not market to this audience”.

The trend has met a backlash from dermatologists who argue that children do not require beauty products and this early focus on appearance can create anxiety over how their skin looks. Children’s skin is more sensitive, and exposing it to unnecessary chemicals increases the risk of irritation and sensitisation later on, they say.

Cosmeticorexia refers to an obsession with achieving “flawless” skin that can lead to excessive, age-inappropriate or compulsive use of cosmetic products.

“The investigations were opened over concerns that important information – such as warnings and precautions for cosmetics not intended for, or tested on, minors – may have been omitted or presented in a misleading manner,” said the regulator.

While not illegal to sell such products to underage customers, the regulator said: “The frequent and combined use of a wide range of cosmetics by minors, without proper awareness, may be harmful to their health.”

LVMH said that it, Sephora and Benefit would “fully cooperate with the authorities” but declined to comment further. “All the companies reaffirm their strict compliance with applicable Italian regulations,” it added.

The Guardian

When the gavel came down in December, Christie’s had set a record that created a buzz in the auction world.

A Tiffany & Co. necklace adorned with a sparkling blue Paraiba tourmaline gem and diamonds sold for more than $4.2 million, 10 times its low estimate. A matching pair of earrings hit the block next, and it too sold for 10 times its estimate.

“I think that was really a marker for how far private clients are willing to go for these exceptional goods,” said Jacqueline DiSante, vice president and head of sales of Christie’s New York jewelry division.

Amid economic and geopolitical uncertainty, a certain class of consumers are turning toward an unlikely asset class — jewelry. The trend comes as investors increasingly flock to tangible assets. For ultrarich consumers, colored gemstones such as rubies, sapphires and emeralds are especially popular right now.

“Whenever you have macroeconomic volatility … the appeal of hard asset investing goes up,” said Thorne Perkin, president of investment management firm Papamarkou Wellner Perkin. “Tangible assets, they tend to retain their value or even increase when inflation rises.”

Mario Ortelli, a managing partner at strategic and M&A advisor Ortelli&Co., agreed with Perkin’s take, saying that there was clearly a “defensive element” to the trend.

“In periods of inflation, geopolitical tension, or financial market volatility, tangible assets become more attractive,” he said in an email. “Branded jewelry can function as a portable store of value.”

“Unlike fashion accessories that are tied to seasonal cycles, iconic jewelry collections have a much longer product life cycle,” he added. “In many cases, they also demonstrate stronger resale value dynamics than handbags. That longevity and perceived capital preservation help explain jewelry’s relative resilience versus soft luxury.”

Luca Solca, global head of luxury goods at Bernstein, estimated that roughly one-third of the renewed interest in gold-heavy and gemstone-driven jewelry could be tied to “flight to safety” behavior for investors.

Strong resale value

Surging gold prices have played a role. Long considered a safe-haven asset, gold in January soared to its highest price ever, above $5,100 an ounce. Although prices have pulled back since, it still trades at a lofty level, above $4,500 an ounce.

“I think the view of jewelry — gold jewelry, diamond and gemstone jewelry — being viewed as an investment is enhanced by, obviously, the almost daily increase in the gold price,” said Andrew Brown, founder and CEO of luxury resale platform MyGemma.

DiSante, of Christie’s, said record high gold prices have incentivized some collectors to come out of the woodwork and sell certain pieces.

Jewelry’s durability in the resale market is part of its appeal, experts say. Brown said he regularly sees clients reselling branded jewelry years after their original purchase, often at prices that hold up far better than designer handbags, which show wear from use much easier.

Jewelry has managed to buck softness in the luxury market and has been growing “quite nicely” over the past two years, according to Caroline Reyl, senior investment manager of Pictet’s premium brands strategy.

Reyl said she has seen consumers shifting away from “soft luxury” items such as handbags and accessories. At the same time, “hard luxury” goods such as watches and fine jewelry have grown in popularity. Reyl attributed the change to extreme price hikes for handbags due to previously strong demand and supply chain disruption.

Quality concerns have also been a headwind, Brown said.

A Bernstein study found auction prices for Hermès’ iconic handbags have fallen, and average resale premiums for Birkin and Kelly bags slipped from 2.2 times in 2022 to 1.4 times last November.

“Leather does not have a lot of inherent value,” said Ankur Daga, founder and CEO of fine jewelry e-commerce company Angara. “As gold is appreciating, people are understanding more and more that this is a very valuable asset.”

Durability has helped reinforce jewelry’s reputation as a long-term store of value, especially pieces from well-known brands such as Cartier, Van Cleef & Arpels, Tiffany & Co., and Bulgari. Brown estimated that these four brands made up around 90% of MyGemma’s jewelry sales.

A ‘passion investment’

There’s also an emotional element to jewelry. Perkin called it a “passion investment,” with consumers potentially drawn in by an “element of prestige.”

Ortelli agreed. He said the brand equity, craftsmanship and scarcity element reinforce the perception of durability and value retention.

“Branded jewelry has historically experienced mid- to high-single-digit annual price increases over the long term, depending on brand and the design,” Ortelli said. “As resale often occurs at a moderate discount to current retail pricing, over a 5-10 year horizon, owners can frequently exit above their original purchase price.”

‘Color is en vogue’

Gold-heavy jewelry benefits from a price floor created by the intrinsic value of the metal, Ortelli said. “However, exceptional gemstones — especially rare, high-quality sapphires, rubies, or emeralds — can command significant collector premiums,” he said.

Fashion trends currently favor colored gemstones, which have emerged as one of the fastest-growing jewelry segments.

Lucrezia Buccellati, jewelry designer and co-creative director of Italian jewelry house Buccellati, said this is particularly true in Asian markets. Colored stones allow for more creative designs and often appeal to buyers who want more distinctive and personal pieces, she explained.

Consumers also may be seeking alternatives to diamonds.

There is a “genuine dearth of gem-quality material that’s coming out of the earth,” Angara’s Daga said. He explained it is more difficult to replicate colored gems in a lab. Unlike diamonds, the stone’s inclusions — or the minerals trapped inside during formation — provide character and enhance the value of a colored gemstone.

“No two are exactly alike, and I think that’s what makes them so interesting to today’s market,” DiSante said, comparing each one to a piece of art. “In a world where we are seeing lab-grown diamonds being made, and it kind of feels like this conveyor belt … you can’t do that with a sapphire or ruby or emerald.”

Daga said he expects colored gemstones will appreciate faster than gold.

“If you look at Sotheby’s and Christie’s auctions, these gemstones are trading at numbers nobody would have thought possible five years ago, and it’s only going to increase,” he said. “Color is en vogue.”

Colored gemstones have traded at two to three times the high estimates at auction houses, which is “very unusual” given that auction houses usually calibrate low and high bids relatively well, Daga said.

As proof of the trend’s strength, Daga estimated that around 15% of engagement rings today feature a colored gemstone, up from 5% a decade ago. They have perhaps been further popularized thanks to celebrities such as Kate Middleton, Eva Longoria, Halle Berry, Rita Ora and Halsey.

The trend has also brought in younger consumers. In 2025, millennials and Gen Z accounted for 44% of Christie’s luxury buyers, DiSante said.

If macro uncertainty persists, experts such as Reyl said they expect jewelry investing to continue. Buccellati concurred, saying within high luxury, she expects jewelry to continue growing and surpassing soft luxury goods.

There are certain challenges, however, including illiquidity, safety concerns and storage costs. And unlike stocks or real estate, jewelry does not provide its owners with an income.

“Jewelry should not be viewed as a financial asset equivalent to equities or ETFs — liquidity, transaction costs, and dispersion of returns are much higher,” Ortelli said.

He added that the long-term outlook for branded luxury jewelry is positive, but cyclical.

“The category performs best in supportive macroeconomic environments with rising wealth creation and political stability. … In the event of a severe macroeconomic downturn, demand would contract,” he wrote.

And that is where some collectors may find comfort in the more emotional aspects of jewelry.

“I think there’s something really romantic about a colored stone,” DiSante said. “There’s something really incredible about when you think that it formed in the Earth hundreds of thousands of years ago. And if it’s a Kashmir sapphire — that mine was only mined for 20 years in the early 1900s .

CNBC

The world of perfume has always been synonymous with luxury and individuality. We marvel as much at the beauty of the bottle as at the elixir it contains. A fragrance is chosen as a true olfactory signature, reflecting the mood of the moment or capable of lasting a lifetime.

So what better time than Black Friday to treat yourself to your dream fragrance at a great price? The best discounts are already here and continue until December 1st, Cyber ​​Monday. Whether for holiday gifts or a personal indulgence, these iconic perfumes are waiting for you.

Up to 40% off your favorite perfume at Nocibé

At Nocibé, Black Friday comes with particularly attractive offers on top names in perfumery. Whether 30, 50, or 100 ml, each size benefits from discounts of up to 40%. Here are the most irresistible fragrances to treat yourself or someone else to as the holidays approach.

Celebrate self-affirmation with La Vie Est Belle Vanille Nude by Lancôme

An ode to self-acceptance and life’s little pleasures, this  new version of La Vie Est Belle  unveils an ultra-creamy, musky vanilla trail. Indulgent and subtle notes, reminiscent of a French pastry.

Inimitable and unconventional, Miu Miu Miutine Eau de Parfum

Miutine Eau de Parfum  is intoxicating from the very first moment, thanks to its notes of wild strawberry. What follows? A creamy floral heart of gardenia, followed by a warm base with soft accents of vanilla, brown sugar, and patchouli.

An exceptional bottle and an addictive fragrance: L’Interdit Parfum by Givenchy

In a bottle that flirts with masculine codes,  L’Interdit by Givenchy  unveils a highly sophisticated floral and woody composition. Its key notes: a bouquet of orange blossom, jasmine, and mimosa, enhanced by a vetiver-patchouli accord.

Shalimar L’Essence, the icon of the House of Guerlain

To celebrate the 100th anniversary of this cult fragrance, Guerlain has reinvented the logo of its iconic  Shalimar L’Essence . A perfume where bergamot illuminates the powdery elegance of iris and rose. In the background, amber lends a leathery facet to the elixir.

Flamboyant and festive, the Million Gold for Her fragrance by Rabanne

Designed for night owls,  Million Gold For Her  boasts a vibrant fragrance based on ylang-ylang, jasmine, and sandalwood. A sensual and addictive scent that perfectly complements sequined dresses and stiletto heels. Let’s party .

 LIBRE Eau de Parfum by Yves Saint Laurent, between sensuality and audacity

Embodying a fierce and uncompromising freedom,  LIBRE Eau de Parfum  dares to combine the sensuality of orange blossom with the sweetness of lavender, all enhanced by mandarin and cedarwood in the base notes.

Born in Roma Donna, the Haute Couture Eau de Parfum by Valentino

Valentino Eau de Parfum  embodies a sophisticated and luminous femininity, through notes of jasmine sambac, cashmeran, and bourbon vanilla. An homage to the Italian dolce vita, a blend of luxury and sensuality.

Story by Madame Figaro