NAPA, CALIFORNIA - JUNE 25: Simone Dominici speaks onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

NAPA, CALIFORNIA - JUNE 25: Michelle Ranavat attends The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

NAPA, CALIFORNIA - JUNE 25: Alex Wiltschko, Osmo speaks onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Frazer Harrison/Getty Images for the Business of Fashion )

NAPA, CALIFORNIA - JUNE 25: Cassandra Grey speaks onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Frazer Harrison/Getty Images for the Business of Fashion )

NAPA, CALIFORNIA - JUNE 24: (L-R) Paloma Elsesser and Priya Rao, Executive Editor, The Business of Beauty, attend The Business of Beauty Global Forum 2026 at Stanly Ranch on June 24, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

NAPA, CALIFORNIA - JUNE 25: (L-R) Priya Rao, Executive Editor, The Business of Beauty and Guillaume Motte, CEO, Sephora, speak onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Frazer Harrison/Getty Images for the Business of Fashion )

NAPA, CALIFORNIA - JUNE 25: (L-R) Priya Rao, Executive Editor, The Business of Beauty and Guillaume Motte, CEO, Sephora, speak onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

NAPA, CALIFORNIA - JUNE 24: (L-R) Priya Rao, Executive Editor, The Business of Beauty and Paloma Elsesser speak onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 24, 2026 in Napa, California. (Photo by Amy Sussman/Getty Images for The Business of Fashion)