The Future of Aesthetics

Teledermatology is just the starting point; aesthetics are the end game.

Here we’re sharing with you with the conversations happening across team Maveron — including what’s now & what’s next, perspectives beyond the boardroom, and the long view on consumer shifts we believe will stick around for the years ahead.

Maveron’s new New York office (coincidentally) is located right next to the Union Square Sephora. Popping into this Sephora after work has quickly become part of my daily routine. Some might call it window shopping, but I call it “market research,” looking at which products are out of stock versus collecting dust. Last week, after reading a few of the latest exciting fundraising announcements on teledermatology and while on my daily Sephora pit stop, I realized: teledermatology is just the starting point; aesthetics are the end game.

Companies like Hims, Ro, and Thirty Madison have done a great job proving the online provider network and compounding pharmacy model (fun fact: Maveron led Thirty Madison’s Series A). In fact, they’ve been so successful that product innovation may no longer be a competitive advantage. Winning in teledermatology could very well end up as a marketing ground game that most early-stage founders and investors won’t want to play. To be clear, this isn’t to knock teledermatology. I believe these companies are creating much more long-term value than simply expanding access to prescription treatments like Accutane or Spironolactone.

If dermatological care is more accessible, where does that take us down the line? If treating acne becomes easy (or maybe even preventable), what will consumers focus on next? I think the major underlying shift around aesthetics will mirror that of GLP-1-driven weight loss.

GLP-1s didn’t just change outcomes, they changed the conversation. What once centered on guilt, restriction, and “willpower” is now framed around science, accessibility, and choice. Thanks to the normalization by dermatology telemedicine, aesthetics will follow the same path, shifting from quiet conversation to being openly discussed, accepted, and maybe even celebrated. What used to be whispered about will be marketed, memed, and normalized. This shift will be accelerated by TikTok and other social media platforms – we’re already seeing the beginnings of it with trends like the “glazed donut face” or “fox eye makeup.”

There is a set of consumer beliefs and habits starting to take shape that will bring about the future of aesthetics. These are the ones taking up most of my mental real estate right now:

1. People are going to spend on aesthetics no matter what. The amount of spend may range and the treatments may range, but the area of spend will be durable. That said, consumers will place more emphasis on perceived value, meaning that product quality must be excellent. Now, “excellent” is extremely subjective… but, I think that’s the point. Excellency could come in the form of efficacy, formulation, brand messaging, or even packaging design. Aesthetics will survive shifting market cycles, but the onus will be on brands and platforms to identify their ideal customer profile and build product specifically for them.

2. There’s a new generation in charge. Gen Alpha’s Sephora Kids are poised to become one of the biggest drivers of growth for the beauty industry, with spending power projected to reach $5.5T by 2029. Sephora Kids aren’t just discovering classic millennial brands like Drunk Elephant, they’re also jetting new brands that align skincare as healthcare like Byoma and Bubble Skincare to extremely valuable heights. Byoma is rumored to be in M&A talks for around $1B, with Bubble next on the list, according to Drew Fallon. Gen Alpha is bringing power and influence to the aesthetics market and any future brand or platform built in the space should likely be built for them (and maybe even by them).

3. Brand will be a moat. Aesthetics are more than just plastic surgery and injectables, they’re about self expression. As the conversation around aesthetics is normalized, there will be significantly more creative license afforded when marketing the space. The same thing happened with weight loss – my favorite example being Charles Barkley’s commercials for Ro. Synonymous with the point around marketing strategies having fewer bounds, as aesthetics become more a form of self expression, we’ll see richer brands built for these platforms and products. Brands will be built in the open, they’ll be celebratory, even humorous.

4. Power users will evolve faster. Aesthetic personas will change from growth catalyst to steady patrons through previously unexplored or untapped marketing strategies. According to BCG, growth catalysts are consumers that “intend to explore medical aesthetics in the future.” Today, 15% of growth catalysts convert to users each year and 7% of year growth catalysts churn each subsequent year. I think we’ll see more growth catalysts convert to steady patrons and fewer churn each year, because they will resonate more deeply with the next-generation brands built. That’s difficult to do today, because it’s hard to market aesthetics today. It’s still largely taboo, although early brands like Peachy and June Skin have started breaking out. Also, today, most of these growth catalysts are converted to steady patrons through laser hair removal procedures. As the marketing landscape evolves, we’ll see more growth catalysts converted through a wider variety of procedures, including fillers, facials, and more.

There’s a few types of businesses I think could emerge in this space based on these behaviors and habits.

• Facial analysis platforms. Think something like Qoves, Thea or Lovi. The technology required for these platforms had previously been clunky, but as computer vision and AI have gotten sharper and more accessible, they’ve become much easier to build out. That said, the real unlock isn’t the analysis itself. It’s how the platforms translate the data into something consumers actually understand and want to act on. Whichever platform figures out how to package these insights in a way that’s clear, creative, and actionable should have a meaningful competitive advantage.

• R&D-driven products. Companies like Phyla are already pushing beyond generic solutions and into targeted, science-backed treatments. If we look back to 2023, Unilever’s acquisition of K18 for a rumored $1B is an even earlier sign of this trend. There’s a tangible opportunity to deliver results that feel just as effective as a laser facial or injectable, but without the invasiveness, downtime, or price tag. This touches on the importance of product quality, but should also make aesthetic goals much more attainable than they are today for the average American consumer.

• Health as aesthetics. Aesthetics are expanding into adjacent categories like sleep and diet. We’re seeing the beginnings of this with Ulta and Sephora both expanding into supplements. While this may look like a merchandising play, these retailers are actually training consumers to shop for products traditionally considered “healthcare” in settings traditionally reserved for “beauty.” Blurring the lines between these categories should normalize routines that address internal health as part of an aesthetic routine, and vice versa. Also considering the rise of prejuvenation, or Gen Z’s idea of treating aging before they age, aesthetics will focus just as much on your sleep cycle or gut microbiome as your SPF regimen.

Ultimately, the future of aesthetics won’t just be about treating what’s visible. The future of aesthetics will reframe how we think about beauty and self-expression altogether. The companies that win aren’t just going to sell products and services, but will expand the definition of what it means to look and feel good for consumers.

If you’re also deep in the weeds of the future of aesthetics, let’s chat!

On Milestone Partnerships

“This is not an easy space to play in. We’ve seen market contraction, consolidation, wild valuations, soft demand, and products that simply didn’t deliver for consumers. We’ve seen it all. What we’ve done well is stay laser-focused on one thing…delivering tasty, clean-label plant protein under a brand we believe in. This team stayed the course through the noise and negative headlines. Grit. Relentlessness. Commitment. Buy-in.”

— Jeffrey Gendelman, CEO of Daring, discussing the team’s commitment to growth after recently being acquired.