In a move that provides it with a formidable presence in the British beauty market, Sephora is purchasing digital beauty merchant Feelunique. The deal is anticipated to close in the latter half of 2021. Particulars of the arrangement were not made known, Yahoo Life reported.
“The transaction is a key step in Sephora’s European growth strategy and marks a first step for Sephora’s presence into the United Kingdom …,” Sephora President and CEO Martin Brok said, as per the report.
Feelunique was established back in 2005 and has retail in addition to marketplace channels. The firm has 1.3 million active customers among its ranks.
“Sephora is an iconic retailer in the prestige beauty space in Europe. We are looking forward to working together and leverage our respective strengths to drive the prestige beauty segment in the U.K.,” Feelunique CEO Sarah Miles said, per the report.
The cosmetics and personal care market in the United Kingdom as valued at over $10.5 billion back in 2019.
The two firms are expecting that these “shop-in-shops” will come to 800 Target stores nationwide in future years.
“Ulta Beauty at Target is unmatched in the industry, bringing guests the opportunity to discover new prestige brands while they shop Target’s incredible beauty assortment,” Christina Hennington, EVP and chief growth officer at Target, said in a July announcement.
Clinique, Drybar, MAC Cosmetics and Urban Decay are among the prestige brands included in the Ulta Beauty at Target collection.
“As the retail and beauty industries continue to evolve, we take pride in being leaders that continually redefine and elevate guest experiences. Ulta Beauty at Target reflects our commitment to drive the industry forward and keep our guests meaningfully engaged,” Ulta Beauty COO Kecia Steelman said in the announcement.