According to this article...
"Beauty: Culture-Specific or Universally Defined?"
in some aspects, NO, but in some aspects, YES.
For example, most Americans would not find large lip plates very attractive, but in Ethiopia, this is a very beautiful look for the Surma and Mursi women. 
Another example of atypical beauty the article mentions is neck elongation that the Kareni and Padaung women of Myanmar value.
So across different cultures, some different things are considered beautiful. However, even though some cultures value skinny women and others value larger women, there is still a universal preference toward the 0.7 waist-to-hip ratio. Also, squared jaws for men and high-chek bones for women are universally preferred. Even more examples are provided in the article if you'd like to read for more detail.
So can beauty be universally defined? In all aspects, of course not. But there are some general, natural features that most people could considered more appealing to the eyes. Culture to culture and generation to generation will vary in regard to what is considered the most attractive way for people to dress, wear their hair and makeup, and to adorn themselves with jewelry. However, the natural basic features (such as the ideal waist-to-hip ratio and the symmetry of a face) will probably remain the standard for beautiful women worldwide.
Awesome article. The pictures really drew me in. I have heard of the elongated neck thing, but I have never heard of the lip plate. That thing is crazy! I wonder if it is more difficult to talk with that thing in? It almost has to be.