Sephora could be acquiring Feelunique.com
LVMH-owned cosmetics retailer Sephora could acquire beauty-focused British e-commerce platform Feelunique.com. According to UK newspaper The Sunday Times, the French retailer has agreed to purchase Feelunique.com as part of a deal valuing the business at £132 million (152.8 million euros). Confirmation of the agreement is expected soon, although Sephora is yet to respond to FashionNetwork.com's requests for comment.
Currently still hypothetical then, the acquisition would allow Sephora to enter the UK market. Indeed, despite the company operating some 2,600 locations in 35 countries, to date Sephora has no stores in Britain, largely due to the strength of high street pharmacy and beauty retail chain Boots. Looking online, Sephora doesn't have a website serving the British market either.
Owned by capital investment firm Palamon Capital Partners since 2012, Feelunique.com saw its sales grow 26% to £103.5 million (120.02 million euros) in the fiscal year ended March 2021. The company, which was founded in 2005, operates in 120 countries around the world, boasting dedicated websites in the UK, France, Germany, Norway, China and the United States. In 2018, Palamon Capital Partners gave up on selling Feelunique.com when faced with a lack of satisfactory offers. However, in May of this year, British media outlets reported on a possible acquisition of the business by e-commerce giant Asos.
As for Sephora, the Paris-based retailer has been working to strengthen its online presence on a global scale. In June, the company signed off on a strategic partnership with Zalando, allowing Sephora's products to be sold by the German fashion e-tailer.
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