This invention relates to a cosmetic composition comprising, in a physiologically acceptable medium, at least one microcapsule comprising at least: —a core, —a first laminated coating surrounding said core comprising at least 45% by weight of the total weight, of a microcapsule of multilayer interference particles comprising at least one iron oxide, and —a second laminated coating surrounding said first coating, comprising between 10 and 40% by weight of titanium dioxide relative to the total weight of a microcapsule, said multilayer interference particles being released from said microcapsule(s) only when said composition is applied on a keratin material such as keratin fibers or the skin.