An apparatus, mold assembly and related method for manufacturing a personalized lipstick is described, the apparatus including a housing or cabinet, a plurality of different color blends each held within a separate pot fitted with a dispensing system, an ultrasonic wave heating/mixing probe, a mold assembly held within the probe and a transport rail for moving the probe from one station to another within the housing. The lipstick mold assembly includes a sheath containing a solidified base wax formed with a well for receiving color pigments. The method for molding the lipstick includes use of the aforementioned apparatus, providing the mold assembly with a solidified wax, transporting the mold assembly to dosing positions for receiving programmed amounts of the color blends, applying an ultrasonic wave to heat and blend the wax/dosed color blends, transporting the mold assembly within the housing to a cooling station, returning the mold assembly to an operator for demolding and assembling into a suitable lipstick case.