A package deal no more.

According to multiple industry sources, the  Estée Lauder Cos. is no longer marketing Too Faced, Smashbox and Dr. Jart together. Instead, the makeup brands are being offered together and Dr. Jart by itself.

After implementing a new strategy to turn around the beauty company’s fortunes, chief executive officer Stéphane de La Faverie revealed last year he is assessing the group’s portfolio. While the company has not confirmed publicly which brands are up for sale, sources have said it is these three, which went out of the gate as a package, before the strategy changed.

The Estée Lauder Cos. did not respond to a request for comment.

For the second quarter ended Dec. 31, the company’s net sales increased 6 percent to $4.2 billion, a touch above Wall Street estimates, while organic net sales rose 4 percent. Adjusted diluted net earnings per common share increased to 89 cents, or 43 percent, compared with 62 cents a year earlier.

As a result, the company nudged up the lower end of its net sales full-year forecasts to range between 1 percent and 3 percent, from the previous outlook of flat to 3 percent.

Nevertheless, its stock price was down by almost 20 percent to $96.66 as investors fretted that Lauder’s full-year adjusted earnings forecasts of between $2.03 and $2.23 were below some Wall Street estimates. It’s understood that investors were also still jittery about tariffs, with the company continuing to expect tariff-related headwinds to impact fiscal 2026 profitability by approximately $100 million, mostly in the second half.

On Thursday its stock closed up almost 1 percent to $106.42.