The Beauty Slowdown Has Come for Indie Retailers

The woes of some of the beauty industry’s biggest names, like Ulta Beauty and Estée Lauder, have made recent headlines. But indie retailers are feeling the squeeze too — if not more.

Clean beauty retailer Credo Beauty laid off 27 percent of its corporate staff in May 2024 and has been behind schedule on payments to some of its brands, the retailer confirmed. Meanwhile, another clean-centric retailer, Gwyneth Paltrow’s Goop, underwent two sets of layoffs in September and October this…