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Industry & Competitive Context The global mass cosmetics market is one of the most structurally competitive consumer goods categories, defined by low switching costs, high product proliferation, and the persistent dominance of legacy conglomerates such as L'Oréal, Revlon, and Coty. These incumbents have historically commanded disproportionate share of voice through decades of investment in traditional media, department store shelf space, and celebrity endorsements — a model t