It has been announced today that The Hut Group (THG) have acquired prestige British online retailer Cult Beauty, in a £275 million deal.
Cult Beauty was founded in 2007 by Jessica DeLuca and British Beauty Council Advisory Board Member Alexia Inge; Cult Beauty sells over 300 brands including Makeup by Mario, VIEVE, Paula’s Choice and Charlotte Tilbury on it’s platform, and has a reputation as “first-to-market”.
“Cult Beauty is frequently the partner of choice for emerging indie brands due to its personalised, content-led approach and enthusiastic consumer base who are continually seeking new, innovative solutions to complement their beauty routines.
Cult Beauty’s first-to-market reputation makes the brand an exciting fit for our THG Beauty division.
When retailing brands to consumers THG Beauty will run with two unique fascias within our main continents: THG will principally service customers within North America via our Dermstore and Lookfantastic brands, while in the UK, Europe, Asia and the Rest of the World the key brands will be Lookfantastic and Cult Beauty.”
– Executive chairman and chief executive off THG, Matthew Moulding