Sephora confirms acquisition of Feelunique stating UK prestige beauty promise a key driver

Rumours of the deal began circulating this week, with LVMH-owned Sephora confirming the purchase at this time. The transaction, topic to anti-trust clearance, was anticipated to shut throughout the second semester of 2021, between March and July subsequent 12 months. Palamon Capital Partners had headed up the acquisition settlement alongside different shareholders.The purchase will see Sephora tackle Feelunique’s 35,000-strong product beauty and perfume portfolio and 1.3 million lively prospects.European development and UK prestige beauty push​Martin Brok, president and CEO of Sephora, mentioned: “The transaction is a key step in Sephora’s European development technique and marks a first step for Sephora’s presence into the United Kingdom, one of the top-ten largest prestige beauty markets worldwide, with a very excessive degree of digital adoption.”​“UK customers have a robust urge for food for a fastidiously curated prestige beauty provide that’s tailor-made to their wants, and supplied by means of a consumer-centric, seamless expertise,”​ Brok mentioned.Last month, Sephora additionally partnered with German e-commerce style main Zalando​ in a transfer that the 2 firms mentioned would create a “new, progressive on-line prestige beauty expertise for thousands and thousands of Zalando prospects”. ​Balancing prestige beauty inside the ‘skinimalism’ pattern​Sarah Miles, CEO of Feelunique, mentioned: “Sephora is an iconic retailer within the prestige beauty house in Europe. We are wanting ahead to working collectively and leverage our respective strengths to drive the prestige beauty section within the UK.”​However, the businesses must maintain a shut eye on the ‘skinimalism’ pattern rising within the UK and resulting in a 23% decline in 2020 UK prestige skincare gross sales​, in accordance with The NPD Group. A gross sales dip was seen throughout prestige face lotions, cleansers and exfoliators for the 12 months as customers seemed to strip again beauty routines – a pattern additionally seen elsewhere throughout the globe.But in an interview with our sister website CosmeticsDesign-Asia in May, Sephora already acknowledged this pattern​, noting streamlined and multi-purpose beauty was rising in significance throughout skincare, hair care and make-up.

https://www.cosmeticsdesign-europe.com/Article/2021/07/23/Sephora-confirms-acquisition-of-Feelunique-stating-UK-prestige-beauty-promise-a-key-driver

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