Brand Finance’s Cosmetics 50 2026 reveals that the industry’s total brand value drops by 6% to $149.8 billion
SYDNEY, 6 May 2026 – Australia’s cosmetics sector ranks as the eighth largest contributor to this year’s total brand value, representing a 1% share (USD1.8 billion), with one brand featured. According to the Cosmetics 50 2026 ranking by Brand Finance, the world's leading brand valuation consultancy, the global cosmetics industry faces a slowdown as geopolitical and economic uncertainties impact major economies, causing consumers to become increasingly focused on products that deliver real value and quality.
Rexona is the only Australian brand featured among the world’s top 50 cosmetics brands, ranking 25th globally. The antiperspirant manufacturer records an 11% decline in brand value to USD1.8 billion in 2026, largely impacted by significant restructuring initiatives by Unilever, its parent company, including 7,500 job cuts globally, as well as unfavourable macroeconomic climate in one the industry’s biggest market, China. This has been driven by high youth unemployment rates, population contraction, and real estate crisis.
In addition to ranking in the top 25, Rexona also ranks as the fifth strongest cosmetics brand globally after a one-spot slip in the ranking from last year, receiving a Brand Strength Index (BSI) score of 84.7/100 and an AAA brand strength rating. The brand’s diverse antiperspirant product line plays an important role to its performance, offering high-performance antiperspirants or fragrance-first ‘perfume deodorants’, alongside multi-formatted options such as sticks, sprays, and roll-ons. This strategic approach helps Rexona maintain a strong performance in several metrics such as reliability, credibility, and consideration.
Mark Crowe, Brand Finance Australia Managing Director, commented:
“The resilience of Rexona underscores a broader industry truth: in times of economic strain and shifting consumer priorities, scale matters less than substance. Brands that consistently deliver functional innovation, trusted performance, and tangible value will continue to outperform, proving that strength is not defined by size alone, but by the ability to remain relevant when consumers become more selective.”
Global Insights
France’s cosmetics sector remains the largest contributor to the ranking, accounting for 46% (USD68.5 billion) of the total brand value this year. The US follows in second place with a 34% share (USD50.4 billion) and Germany in third with a 7% share (USD10.1 billion). The cosmetics sector’s overall brand value shows a 6% decline due to industry-wide headwinds such as geopolitical uncertainties and economic slowdowns.
Chanel (brand value down 11% to USD24.4 billion) maintains its position as the most valuable brand, while rising two spots to become the strongest brand in the 2026 ranking, with a Brand Strength Index (BSI) score of 89.8/100 and an AAA+ brand strength rating. Chanel’s brand value experiences a drop due to a decline in revenue forecasts in China and the US, the sector’s largest markets, amid challenging macroeconomic conditions.
Bulgari emerges as the fastest growing brand this year, following a 41% increase in brand value to USD1 billion. The brand experienced a noteworthy year, driven by record multi-million-dollar sales of its ‘Polychroma’ fragrance collection, the establishment of new flagship stores across various continents, and the launch of successful brand campaigns throughout the year.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
