- Sources: Palamon Capital Partners puts Feelunique up for sale.
- Online beauty retailer had revenues of £80 million last year.
LONDON – The private equity owner of online beauty retailer Feelunique is exploring a sale of the company, Business Insider understands.
Two sources told BI that Palamon Capital Partners has commenced a sale process in recent weeks. Investment bank Jefferies has been appointed to explore options for the business, one of the people said.
Palamon Capital Partners declined to comment. A spokesperson for Jefferies declined to comment. A spokesperson for Feelunique said: “Like all private equity-backed companies, Feelunique is asked frequently about corporate interest in the business. As a rule, we never comment.”
Feelunique claims to be Europe’s largest online beauty retailer with a choice of more than 30,000 products from 500 brands such as Benefit, L’Oreal, and Charlotte Tilbury. It sells make-up and skin care product across 120 markets and has dedicated websites for the UK, France, the EU, Germany, Norway, China and the US.
Palamon, which also owns Sweden’s Happy Socks, has owned Feelunique since 2012. It paid £26 million for the UK business.
Feelunique reported sales of £80 million in the year to March 2017, up 27% year-on-year. The company said on Wednesday that it sold £6 million-worth of goods during its recent Black Friday and Cyber Monday promotions, up 40% on last year.
CEO Joel Palix said in a statement at the time: “Feelunique’s trading through the Black Friday promotion is further compelling evidence of the shift in the beauty sector to online purchasing.
“The focus we have given to establishing the leading technology-led digital platform in the sector, building an online community and solidifying our brand relationships, is really coming to fruition.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.