It has been revealed that French cosmetics giant Sephora has agreed to buy the British online beauty retailer Feelunique, in a deal which values the company at £132million.
Feelunique saw an increase in demand during the last 18 months, which saw beauty consumers forced to move from physical retail spaces to digital because of Covid restrictions. Due to this increasing consumer demand for online beauty retailing Feelunique is said to be working with advisors on the sale of the company.
Founded in 1969 in France, Sephora quickly acquired a reputation as a beauty expert. Today, Sephora is owned by the Louis Vuitton Moët Hennessy (LVMH) group; which is the largest luxury group in the world with a presence in 34 countries, spread across Europe, the Middle East, America and Asia.
According to reports, the agreement to buy Feelunique could be announced this week.