LONDON — The race is on to seize a slice of the profitable British magnificence market.
As Harrods rolls out stand-alone magnificence shops throughout the nation and Boots updates its supply and refurbishes shops there, Sephora is seeking to make new inroads within the area.
According to The Sunday Times of London, Sephora has agreed to purchase Feelunique.com in a deal valuing the corporate at 132 million kilos. A deal is about to be revealed within the coming week, based on the report.
Spokespeople for LVMH Moët Hennessy Louis Vuitton, Sephora’s proprietor, and Feelunique.com didn’t return requests for remark at press time.
Sephora has lengthy been locked out of the U.Ok. market as a result of dominance of Boots. In addition, due to duties ensuing from Brexit, Sephora not delivers merchandise to the U.Ok.
The magnificence big has additionally been pushing additional into the net house.
As reported final month, Sephora signed a long-term strategic partnership with Zalando to create a status magnificence expertise on-line, beginning in Germany within the fourth quarter of this 12 months.
A sale has been a very long time coming for Feelunique. At the tip of 2018, Feelunique’s house owners, the personal fairness concern Palamon Capital Partners, known as off one other sale after bidders didn’t match the location’s valuation of 200 million kilos.
Not lengthy after, Joël Palix, the model’s longtime chief government officer, exited the corporate and was succeeded by Sarah Miles. She joined from Amazon Inc., the place she had served as EU advertising and new enterprise director at Amazon Fashion.
Feelunique was established in 2005 and carries greater than 35,000 merchandise from 800 manufacturers by way of its retail and market channels.
It presents magnificence, make-up, skincare, hair care, perfume, equipment, gadgets and sexual wellness product classes. The firm ships to greater than 120 nations and boasts devoted internet sites in nations together with France, Germany, Norway, China, elsewhere within the European Union and U.S.
According to the corporate’s web site, it has 1.3 million energetic prospects and ships greater than 18,000 merchandise on daily basis. In the U.Ok. considered one of its direct rivals is Lookfantastic.com, with is owned by The Hut Group.
The bulk of Feelunique’s gross sales stem from Generation Z customers and Millennials beneath the age 35.
The firm stated in 2020 it achieved “record levels” of gross sales and buyer acquisition numbers. Revenue is considered within the neighborhood of 120 million kilos.
The magnificence market is effervescent within the U.Ok., with excessive avenue giants — and never simply Harrods — seeking to woo the British magnificence buyer.
Last 12 months, Boohoo purchased the defunct Debenhams, and stated it plans to leverage the division retailer’s model relationships and domesticate its loyal clientele.
Boohoo and its rival Asos are undoubtedly eyeing the success that British vogue and life-style big Next has had within the sector.
In 2019, Next purchased the net premium magnificence and well-being retailer Fabled by Marie Claire from Ocado Group and started rolling out bodily magnificence and residential idea shops within the U.Ok. to accommodate the a whole bunch of labels it carries.
Then there’s Amazon, which has been constructing premium magnificence manufacturers, together with RéVive Skincare and Clé de Peau, into its new Amazon Luxury Stores supply.