Brand Capital Fund

Consumer VC Benchmarks

Seed-to-Series A benchmark reports covering market trends, deal activity, and early-stage fundraising — published by the XRC Brand Capital Fund team.

Latest ReportJune 2026

Beauty & Personal Care

Fragrance

This in-depth report provides valuable insights into the fragrance market, covering market trends, deal activity, and early-stage fundraising benchmarks — plus a snapshot of current venture capital sentiment.

Key Insights

Fragrance outpaced every other beauty category in 2025, fueled by FragranceTok, scent-stacking, and fragrance wardrobes.
Fragrance is evolving from a single-purchase category into a platform spanning personal care, home, laundry, and wellness.
100% of surveyed investors plan to invest the same or more in beauty & personal care in 2026 — 56% plan to invest more.
Investors are prioritizing sales growth, repurchase rates, unit economics, and a path to profitability.

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