JD Sports is stepping into the UK’s red-hot beauty market after buying a majority stake in haircare model Hairburst for an undisclosed sum.
Founded in 2014 by James Hill, Henry Gwilliam and Matthew Cragg, Hairburst sells nutritional vitamins, shampoos and styling merchandise for hair.
“We are very proud to be the primary beauty enterprise to companion with JD on its enterprise into the beauty trade,” stated co-founder Hill in an announcement seen by TheBusinessDesk.com.
“With our capacity to create superb merchandise and market by way of social media, supplemented by JD’s client connection, monetary energy and international scale, we see nice potential to construct the Hairburst model and purchase different manufacturers inside the sector,” he stated.
The model sells on to shoppers by way of its web site in France, Italy, US, MENA and South East Asia, in addition to through retailers together with Lookfantastic, Sephora, Holland & Barrett, Boots and Superdrug.
JD Sports eyes beauty market
This is the most recent in a sequence of investments made by JD Sports over the previous 12 months. Since December 2020, the corporate has acquired Manchester-based menswear boutique Oi Polloi, US footwear label DTLR, Leicester-based unbiased menswear retailer Wellgosh, and US footwear retailer Shoe Palace.
The sportswear big can be contemplating snapping up a controlling stake in e-commerce retailer Missguided, in line with a Sky News report earlier this month.
But that is the retailer’s first foray into the highly-competitive beauty market within the UK, dominated by heavyweights like Boots, Next, The Hut Group (THG), Harrods, Asos, Boohoo and Amazon.
The firm stated it plans to broaden available in the market by way of the acquisitions of different “complementary entrepreneurial companies”.
JD Sports government chairman Peter Cowgill stated: “We are happy to have made this preliminary acquisition within the beauty sector and have been impressed by the capabilities of the administration group, who’ve a powerful id and connection with millennials and Gen Z shoppers.”