MODERN BEAUTY, REPORTED WITH RIGOR

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Beauty — Original reporting

Sephora, Ulta, and the End of the Prestige Ceiling

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Sephora, Ulta, and the End of the Prestige Ceiling

The mass-vs-prestige divide is collapsing. What that means for the brands stuck in the middle.

## A pricing floor moves\n\nThe $30 mass mascara is the new normal, and the $60 prestige mascara is quietly changing its pitch...