Is Anastasia Beverly Hills profitable in 2026?

No audited profit figures are public, but revenue has declined from about $340M in 2018 to an estimated $240-275M by 2023-2025, and the company underwent a distressed December 2025 recapitalization with founder Anastasia Soare injecting $225M, signaling financial strain rather than health.

Who owns Anastasia Beverly Hills now?

After the December 24, 2025 recapitalization, founder and CEO Anastasia Soare retained roughly 55% ownership, lenders received about 39%, and TPG Capital, which paid $600M for 38% in 2018, was cut to roughly 6%.

Did TPG lose money on Anastasia Beverly Hills?

Yes. TPG paid about $600 million for a roughly 38% stake in 2018 at a reported $3 billion valuation; the December 2025 recapitalization reduced TPG's holding to about 6%, effectively wiping out most of its investment, per Bloomberg Law reporting December 12, 2025.

Who is Anastasia Beverly Hills' biggest competitor?

LVMH-owned Benefit Cosmetics, which markets itself as the 'No. 1 brow brand worldwide,' plus Fenty Beauty and Charlotte Tilbury (also LVMH-linked), and L'Oréal, all with far larger budgets, directly contest ABH's brow and color cosmetics positioning as of 2026.

Could AI replace Anastasia Beverly Hills' products?

AI is unlikely to replace ABH's core brow business, which relies on its trademarked Golden Ratio technique and salon heritage, but a 2024 vendor SWOT analysis states ABH 'lags peers on AI skin-tone matching and AR try-ons' versus L'Oréal's reported $250M AR/AI investment.

Why did Anastasia Beverly Hills need a recapitalization in December 2025?

Years of revenue decline from a 2018 peak of about $340M, alongside mounting debt, led to an out-of-court recapitalization completed December 24, 2025, where founder Anastasia Soare injected $225 million to restructure ownership and reduce lender risk.

Consumer brands · United States

Anastasia Beverly Hills

anastasiabeverlyhills.com ↗

Prestige color cosmetics brand famous for brow products, sold through Sephora, Ulta, and Nordstrom.

Protection under test

Assessed 23 July 2026 · Evidence as of 23 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 23 July 2026 · Checkable from Q4 2026 · Every call on the record Checkpoint: First post-recapitalization annual results showing whether revenue has stabilized

The call

Anastasia Beverly Hills still owns the brow category on paper, but shrinking revenue, a lender-driven recapitalization, and bigger rivals chasing AI shade-matching leave its next 12 months genuinely unclear.

Anastasia Beverly Hills built its name on eyebrow shaping and the Golden Ratio method, selling through Sephora, Ulta, and department stores. The company is hard to replace because of its brand name and relationships with makeup artists, but bigger companies like LVMH and L'Oréal have way more money to spend on research, marketing, and new technology like artificial intelligence that helps customers find their perfect shade online. Sales have dropped from $340 million in 2018 to around $240-275 million today, and the company had to restructure its debt in late 2025, which means the business is under real financial pressure. The biggest thing to watch is whether sales stop falling over the next year or two, and whether the company's newer products like skincare and lip lines can actually become real money-makers instead of just marketing ideas.

Why

AI pressure: L'Oréal AR/AI shade-matching and virtual try-on tools. L'Oréal is pouring roughly $250M into AI shade-matching and AR try-on while ABH still lacks a comparable tool for complexion products. Could AI do the core job? Only partly.

Bigger players: LVMH (Benefit, Fenty) and L'Oréal. Benefit and Fenty are contesting brow and complexion shelf space with far bigger marketing and R&D budgets than ABH can match. Could a giant copy it? Yes, easily.

What protects it. Anastasia Soare's brow methodology and artist relationships still anchor loyal buyers and prime retail floor space at Sephora and Ulta.

What would change this call

ABH publishes revenue for two consecutive quarters post-December 2025 recap. Would show whether the recapitalization stabilized the business or distress is continuing.
TPG sells or further reduces its remaining ~6% stake. Would signal continued investor exit and deepening financial distress.
ABH launches or expands AR/AI shade-matching tools to match L'Oréal's ~$250M investment. Would show whether ABH is closing the technology gap or still lagging.

Key numbers

Revenue fell from $340M (2018) to about $240-275M (2023)
$225M founder cash injection in Dec 2025 recap (2025-12-24)
TPG's stake cut from ~38% to ~6% after $600M loss (2025-12-16)

Named risks

Post-recapitalization revenue may keep declining under new lender-backed capital structure. Severity: high
Multi-year revenue erosion from $340M (2018) peak to ~$240-275M range with no confirmed reversal. Severity: high
AI/AR shade-matching gap versus L'Oreal and DCYPHER-style rivals in complexion products. Severity: medium
Poor employee sentiment (2.2/5 Glassdoor, 21% recommend) could affect retention and execution. Severity: medium
Active trademark lawsuit against CEO Anastasia Soare over book title, ongoing as of October 2025. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Benefit Cosmetics (LVMH)	contesting	Self-markets as 'No. 1 brow brand worldwide' (vendor-claimed), directly rivaling ABH's core category
Fenty Beauty (LVMH)	gaining on	Backed by LVMH's far larger marketing and R&D resources versus ABH's post-recap constrained balance sheet, 2025-2026
L'Oreal	gaining on	Reported (vendor-claimed) ~$250M AR/AI shade-matching investment vs ABH's stated lag in AI try-on tech, cited 2024-08-08
Charlotte Tilbury	contesting	Listed as a top direct alternative to ABH in prestige color cosmetics, per 2026 competitor analysis
DCYPHER (AI foundation matching)	gaining on	Featured alongside ABH's Impeccable Blurring Foundation in a 2026-05-01 comparative beauty roundup as an AI-personalized alternative

Questions people ask

Is Anastasia Beverly Hills profitable in 2026?: No audited profit figures are public, but revenue has declined from about $340M in 2018 to an estimated $240-275M by 2023-2025, and the company underwent a distressed December 2025 recapitalization with founder Anastasia Soare injecting $225M, signaling financial strain rather than health.
Who owns Anastasia Beverly Hills now?: After the December 24, 2025 recapitalization, founder and CEO Anastasia Soare retained roughly 55% ownership, lenders received about 39%, and TPG Capital, which paid $600M for 38% in 2018, was cut to roughly 6%.
Did TPG lose money on Anastasia Beverly Hills?: Yes. TPG paid about $600 million for a roughly 38% stake in 2018 at a reported $3 billion valuation; the December 2025 recapitalization reduced TPG's holding to about 6%, effectively wiping out most of its investment, per Bloomberg Law reporting December 12, 2025.
Who is Anastasia Beverly Hills' biggest competitor?: LVMH-owned Benefit Cosmetics, which markets itself as the 'No. 1 brow brand worldwide,' plus Fenty Beauty and Charlotte Tilbury (also LVMH-linked), and L'Oréal, all with far larger budgets, directly contest ABH's brow and color cosmetics positioning as of 2026.
Could AI replace Anastasia Beverly Hills' products?: AI is unlikely to replace ABH's core brow business, which relies on its trademarked Golden Ratio technique and salon heritage, but a 2024 vendor SWOT analysis states ABH 'lags peers on AI skin-tone matching and AR try-ons' versus L'Oréal's reported $250M AR/AI investment.
Why did Anastasia Beverly Hills need a recapitalization in December 2025?: Years of revenue decline from a 2018 peak of about $340M, alongside mounting debt, led to an out-of-court recapitalization completed December 24, 2025, where founder Anastasia Soare injected $225 million to restructure ownership and reduce lender risk.

Timeline

2026-06Launched Kiss Theory 23-shade lip/glitter collection; expanded MicroStroke Brow Pen into India
2025-12-24Completed recapitalization: founder injects $225M, TPG cut to ~6%, lenders take ~39%
2025-12-12Bloomberg Law reports TPG takes $600M hit on its ABH stake
2025-10-16Launched MicroStroke Brow Pen, garnering 1,000+ five-star reviews
2025-10-14Billion Dollar Beauty files trademark lawsuit against CEO Anastasia Soare over book title
2025-06-27Launched Hydra Prime SPF 50, ABH's first-ever skincare product
2024-10-22Business of Fashion reports sales slid and debt mounted since 2018 peak
2018TPG Capital invests ~$600M for ~38% stake at reported $3B valuation
2000ABH launches its first product line
1992Anastasia Soare opens brow studio inside a Beverly Hills salon

Revision history

23 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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