People are ditching iconic makeup brands and flocking to buzzy skincare companies like Glossier, and that's terrible news for Ulta

The cosmetics industry has been on the decline in recent years, as it fails to keep up with the rise of skin care and the success of buzzy direct-to-consumer brands like Glossier. This week, both Coty and Ulta Beauty missed sales expectations, pointing to ongoing challenges as the industry seeks ways to stay relevant and appeal to younger shoppers.

The cosmetics industry has been on the decline in recent years, as it fails to keep up with the rise of skin care and the success of buzzy direct-to-consumer brands like Glossier. This week, both Coty and Ulta Beauty missed sales expectations, pointing to ongoing challenges as the industry seeks ways to stay relevant and appeal to younger shoppers.

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