Pressure homogenizers used for dairy products are a completely different animal from the rotor/stator homogenizing mixers used in cosmetic manufacturing. Running one under vacuum isn’t needed for cosmetics.
It’s difficult but not impossible to make a stable emulsion without a homogenizing mixer. I wouldn’t want to run a cosmetic formulation lab without one - but you could if you absolutely couldn’t afford one.
The most popular lab homogenizer is a Silverson. Very similar mixers are made by Ross. Somewhat comparable mixers are made by Gifford-Wood, Arde-Barinco, Admix, IKA, Scilogex, and various Chinese manufacturers.