Eye Makeup By Katie Alves

The worldwide annual expenditures for cosmetics today is estimated at $19 billion. Of the major firms, the largest is L'Oréal, which was founded by Eugene Schueller in 1909 as the French Harmless Hair Colouring Company (now owned by Liliane Bettencourt 26% and Nestlé 28%; the remaining 46% is traded publicly). The market was developed in the USA during the 1910s by Elizabeth Arden, Helena Rubinstein, and Max Factor. These firms were joined by Revlon just before World War II and Estée Lauder just after.
Beauty products are now widely available from dedicated internet-only retailers, who have more recently been joined online by established outlets, including the major department stores and traditional bricks and mortar beauty retailers.
Like most industries, cosmetic companies resist regulation by government agencies like the FDA, and have lobbied against this throughout the years. The FDA does not have to approve or review the cosmetics, or what goes in them before they are sold to the consumers. The FDA only regulates against the colors that can be used in the cosmetics and hair dyes. The cosmetic companies do not have to report any injuries from the products; they also only have voluntary recalls on products.