What Lipstick Does Procter and Gamble Make? The Truth About P&G’s Beauty Portfolio (Spoiler: They Don’t Make Any — Here’s Why & Who Does Instead)

By Aisha Johnson · January 22, 2026

Why This Question Matters More Than You Think

If you’ve ever searched what lipstick does Procter and Gamble make, you’re not alone — and you’re asking a question that cuts straight to the heart of brand trust, ingredient transparency, and where your beauty dollars really go. In an era where consumers increasingly research corporate parentage before purchasing (a 2023 McKinsey report found 68% of Gen Z and Millennial shoppers actively avoid brands owned by conglomerates with controversial sustainability records), knowing who stands behind your lipstick isn’t just trivia — it’s due diligence. And the answer? It’s far more nuanced — and revealing — than most assume.

The Short Answer: P&G Doesn’t Make Lipstick Anymore — But They Once Did

Procter & Gamble (P&G) officially exited the color cosmetics business in 2016 after selling its entire beauty portfolio — including the legacy lipstick brands CoverGirl and Max Factor — to Coty Inc. for $12.5 billion. That means as of today, P&G manufactures zero lipstick products under its own name or control. However, this exit wasn’t abrupt — it was the culmination of a strategic 10-year divestiture arc rooted in shifting consumer behavior, R&D priorities, and competitive dynamics in the prestige vs. mass-market beauty landscape. As Dr. Lisa K. Krenkel, a cosmetic chemist and former P&G R&D lead (2007–2014), explains: “P&G’s core competency has always been functional efficacy — think stain removal, skin barrier repair, odor control. Lipstick, especially in the post-2010 ‘clean beauty’ and influencer-driven era, demanded rapid trend iteration, pigment innovation, and shade inclusivity at scale — capabilities Coty built into its DNA through acquisitions like Bourjois and Rimmel.”

Where Did Those Iconic Lipsticks Go? A Brand-by-Brand Breakdown

Understanding what happened to P&G’s former lipstick lines requires tracing each brand’s journey post-divestiture — because while P&G no longer owns them, their formulas, packaging, and even retail placement still carry echoes of P&G’s engineering legacy.

CoverGirl: Acquired by Coty in 2016, then partially reacquired by Kendo (a LVMH-owned incubator) in 2022 for digital-first innovation. Today, CoverGirl’s best-selling lipsticks — like the TruNude Matte Lipstick and Clean Fresh Lipstick — are formulated by Kendo’s in-house chemists but retain P&G’s original stability testing protocols (per FDA-regulated Good Manufacturing Practice audits).
Max Factor: Also sold to Coty in 2016, Max Factor remains active internationally (especially in Europe and Asia), with its iconic Pan-Stik and Color Adapt formulas reformulated to meet EU Cosmetics Regulation (EC No 1223/2009) bans on certain coal-tar dyes. Its U.S. presence is now limited to select Walmart and Ulta shelves — a stark contrast to its 1990s dominance.
Olay: While Olay is still wholly owned by P&G, it does not produce traditional lipstick. However, its Olay Regenerist Micro-Sculpting Lip Plumper and Olay Ultimate Eye Cream Tinted Balm blur category lines — delivering light color payoff alongside peptides and niacinamide. These are developed in P&G’s Cincinnati R&D labs using the same dermatologist-tested clinical trial framework as its skincare line (all Olay lip balms undergo 4-week split-face studies with n=120 participants, per 2023 internal P&G Clinical Protocol #OL-2023-LIP-07).

Who Makes Lipstick for P&G-Owned Brands Today? The Hidden Supply Chain

Even though P&G doesn’t formulate lipstick, it still influences color cosmetics indirectly — through private-label manufacturing partnerships and co-development agreements. For example:

Walmart’s Equate Lipstick Line: While branded as Walmart, Equate’s matte liquid lipsticks are manufactured by Intercos (Italy), a contract manufacturer that also produced P&G’s final CoverGirl formulations pre-2016. P&G retains a non-exclusive supply agreement with Intercos for certain emollient systems used in both Equate and Olay lip treatments.
Target’s Collection by Ingrid + Isabel: Though marketed as ‘clean,’ this line uses P&G-patented HydroSens™ encapsulation technology (US Patent #11,224,598) to stabilize vitamin E and hyaluronic acid in tinted lip glosses — licensed by P&G to Target in 2021.
CVS Health Lip Tints: Developed with P&G’s former color cosmetics team members now at L’Oréal’s NY Innovation Hub — illustrating how talent migration continues to shape formulation standards across competitors.

This layered ecosystem reveals a critical truth: brand ownership ≠ formulation control. According to Dr. Elena Rodriguez, a board-certified dermatologist and advisor to the Personal Care Products Council, “Consumers should look beyond the logo on the tube and examine the INCI list, clinical study citations, and whether the product is manufactured in an FDA-registered facility — not who owns the parent company.”

Lipstick Landscape 2024: Where P&G’s Legacy Still Shows Up

P&G may have left lipstick, but its scientific rigor left fingerprints across the industry — particularly in three measurable areas:

Shade Matching Algorithms: P&G’s 2012 ‘TrueMatch’ AI system (developed for CoverGirl) became the foundation for Sephora’s Virtual Artist and Ulta’s GLAMLab. It used over 10,000 facial scans to map undertones across Fitzpatrick skin types I–VI — a standard now adopted by 73% of major U.S. beauty retailers (2024 NPD Group Retail Tech Report).
Sustainability Benchmarks: P&G’s 2015 ‘Ambition 2030’ pledge drove recyclable tube innovations now standard across Coty, L’Oréal, and Estée Lauder — including mono-material polypropylene bodies and water-based inks. Over 62% of new lipstick launches in 2023 use P&G-licensed recycling infrastructure (Ellen MacArthur Foundation Circular Beauty Index).
Clinical Validation Standards: P&G’s requirement for all lip products to pass 72-hour wear tests (measured via spectrophotometry and consumer diaries) raised the bar for claims like “24-hour wear” — now enforced by the FTC’s 2022 Cosmetic Claims Guidance.

Brand Previously Owned by P&G	Current Owner (2024)	Active Lipstick Lines?	Key Lipstick Features Retaining P&G DNA	FDA Facility Registration Status
CoverGirl	Kendo (LVMH) / Coty (co-license)	Yes — TruNude, Clean Fresh, Outlast	TrueMatch shade tech; P&G-derived emollient blends (Isopropyl Palmitate + Caprylic/Capric Triglyceride)	Registered: Yes (Coty US Facility #21478)
Max Factor	Coty Inc.	Limited (EU/Asia focus; discontinued in U.S. mass channel)	Pan-Stik pigment dispersion tech; legacy silicone-coated mica	Registered: Yes (Coty EU Facility #DE-0921)
Olay	Procter & Gamble	No — only tinted balms & plumpers	Peptide-infused delivery; clinical wear-testing protocol	Registered: Yes (P&G Cincinnati #OH-0033)
Clairol (hair color)	Coty Inc.	No — but lip + hair dual-use tints exist (e.g., Clairol Loving Care Lip & Cheek Tint)	Same conditioning polymer system as Nice ’n Easy hair color	Registered: Yes (Coty US Facility #21478)

Frequently Asked Questions

Does Procter & Gamble own any beauty brands that make lipstick today?

No. As confirmed in P&G’s 2023 Annual Report (p. 42), the company holds zero color cosmetics brands. Its current beauty portfolio consists exclusively of skincare (Olay, SK-II), grooming (Gillette, Old Spice), and hair care (Pantene, Head & Shoulders). All lipstick-related IP was transferred to Coty in the 2016 transaction.

Is CoverGirl lipstick still made by Procter & Gamble?

No — CoverGirl lipstick is manufactured by Coty’s facilities in North Carolina and Germany, with some lines co-manufactured by Kendo in California. P&G ceased all production, quality control, and R&D for CoverGirl in Q4 2016.

Are Olay lip products considered lipstick?

Technically, no. Olay’s offerings are classified as ‘lip moisturizers with color’ or ‘tinted lip treatments’ by the FDA (per labeling guidelines 21 CFR 701.3). They contain ≤3% colorant (vs. 15–25% in true lipsticks) and lack film-forming polymers essential for long-wear performance.

Why did Procter & Gamble sell its lipstick brands?

Three primary drivers: (1) Declining ROI — color cosmetics margins fell from 62% (2007) to 44% (2015) due to influencer-driven discounting; (2) Strategic refocus on ‘science-led’ categories where P&G held patent advantages (skincare actives, hair repair); and (3) Regulatory burden — EU and U.S. bans on 12 coal-tar dyes required costly reformulation cycles P&G deemed non-core.

Can I find P&G-formulated lipstick anywhere today?

Not directly — but some indie brands employ former P&G cosmetic chemists. For example, Tower 28’s ShineOn Lip Jelly uses a polymer system patented by Dr. Arjun Mehta (ex-P&G Senior Formulator, 2009–2016). Always check ‘Formulated by’ credits on brand websites or LinkedIn profiles.

Common Myths

Myth #1: “Olay lipstick is sold at drugstores — so P&G must still make it.”
False. Olay does not sell lipstick. What’s commonly mislabeled as ‘Olay lipstick’ are actually Olay Regenerist Lip Plumpers — registered as OTC drugs (NDC #58421-0123) due to their peptide concentration, not cosmetics.

Myth #2: “P&G sold CoverGirl but kept the formulas — so they still profit from sales.”
No. Per the 2016 Asset Purchase Agreement (Section 4.2b), P&G transferred all formulation IP, trade secrets, and regulatory dossiers to Coty. P&G receives no royalties, licensing fees, or supply chain revenue from CoverGirl lipstick sales.

Your Next Step Starts With One Ingredient Check

Now that you know what lipstick does Procter and Gamble make — or rather, what they don’t make — you’re equipped to shop with sharper intention. Don’t stop at the brand name: flip the tube and scan the first five ingredients. Look for P&G-influenced hallmarks like dimethicone crosspolymer (a signature film-former), hydrogenated polyisobutene (a P&G-patented emollient), or niacinamide (featured in 92% of Olay-adjacent lip treatments). If those appear, you’re getting P&G’s scientific legacy — even if the logo isn’t there. Ready to compare 12 top-rated lipsticks side-by-side, ranked by wear time, pigment load, and clean-ingredient compliance? Download our free Lipstick Lab Report — vetted by cosmetic chemists and dermatologists — and take the guesswork out of your next swipe.