LVMH Moët Hennessy Louis Vuitton’s French beauty mogul, Sephora, has successfully acquired Feelunique, a British cosmetics e-retailer, from Palamon Capital Partners, a private equity company.
Martin Brok, President & CEO at Sephora, stated that the firm was ecstatic to welcome the Feelunique team into the Sephora family. He continued by indicating that Feelunique was known for its spellbound consumer experience and vast e-commerce knowledge. Brok stated that the cosmetic giant was looking forward to beginning this endeavor, which was filled with exciting new opportunities and learning experiences.
Sephora’s acquisition of Feelunique
The Sephora acquisition valued the British firm at GBP 132 million. However, LVMH Moët Hennessy Louis Vuitton has not confirmed the price at which Feelunique was acquired.
The acquisition allows Sephora to spread its roots into the competitive beauty market present in the United Kingdom. The firm boasts over 2,600 stores in 35 countries across the globe. With the acquisition of Feelunique, the French beauty mogul will enter the highly competitive UK market which is etched with and dominated by brands like Boots, The Hut Group (THG), Asos, Next, Amazon, Harrods, and Boohoo.
The news of this acquisition arrives after JD Sports, a UK sportswear mogul, declared that it would also be entering into the beauty scene after the acquisition of Hairburst, a UK haircare brand.
Feelunique was founded in 2005 and produces over 35,000 products from over 800 brands. The company ships approximately 18,000 products every day to 120 countries across the world. The company operates active websites in France, Germany, the United Kingdom, the United States of America, the European Union, Norway, and China.
Sarah Miles, Feelunique’s CEO, stated that the acquisition is welcomed by the firm owing to Sephora’s iconic brand name in the European beauty space. The firm is looking forward to beginning this new venture and contribute its strengths to navigate the luxury beauty space, in the United Kingdom, to great heights.