I wanted to do a little wall walkthrough in @Ulta Beauty and break down which brands of @Burberry Beauty, @pradabeauty, @Valentino.Beauty, @chanel.beauty, @Diorbeauty, @Miu Miu, @YSL Beauty, @Gucci are actually owned by which companies because I personally find the beauty industry structure SO fascinating, and I know I’m not the only one! One thing that can get confusing: a beauty license is not the same thing as ownership. A fashion house can own the brand, while a beauty company develops, manufactures, and distributes the products under a licensing agreement. The more you know! ✨#beautyindustry #makeup #luxurymakeup #thelipsticklesbians #fragrance