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This article was provided by eCom News.
Omnichannel beauty retailer Sephora has signed an agreement to buy Feelunique, an UK online retailer of prestige beauty products. The transaction is expected to complete later this year.
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Palamon Capital Partners, which owns Feelunique, has announced the deal on its website by stating it has officially agreed to sell its beauty retail brand to Sephora, which is owned by LVMH Moët Hennessy Louis Vuitton. Terms of the sale, such as the purchase price, were not included.
Feelunique offers 35,000 products from 800 brands.
Feelunique was founded by Aaron Chatterley en Richard Schiessl in 2005. The fast-growing beauty ecommerce platform offers its 1.3 million active customers more than 35,000 products from over 800 brands.
The business size quadrupled
In December 2012, Palamon Capital Partners acquired the beauty retailer from its founders. Since then, it has worked with the company to enhance its market position. Through a program of infrastructure building and growth, the size of the business quadrupled.
Feelunique will continue to be led by the current management team.
“This has involved expanding the brand offering, relocating the distribution center to the United Kingdom to enhance customer experience, opening international markets, investing into the technology platform to enrich customer experience, and launching UK’s emerging beauty marketplace platform”, Palamon sums up.
Feelunique: ‘delighted to join forces with Sephora’
Following the acquisition, Feelunique will continue to be led by the current management team. “We are delighted to join forces with Sephora”, CEO Sarah Miles said. “With the support of Palamon and its co-investors we have created a renowned online player in UK beauty at the forefront of a significant market opportunity.”
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