Is Feelunique owner mulling a sale?
today Dec 1, 2017
Feelunique saw record Black Friday sales, the beauty e-tailer said this week, as speculation emerged that its private equity owner is exploring a sale of the company.
Two sources told Business Insider that Palamon Capital Partners has started a sale process with investment bank Jefferies appointed to look at options.
Neither party would comment on the report, apart form saying that “like all private equity-backed companies, Feelunique is asked frequently about corporate interest in the business. As a rule, we never comment."
But the company did comment on its sales momentum, saying this week that its Black Friday Weekend saw sales of over £6 million, 40% up year-on-year.
This was underpinned by strong performance from international websites, with retail sales more than doubling in both China and France.
Its average order value grew by 17% and a record-breaking 400,000 products were shipped during the promotion to 83 countries. Best-selling products included Urban Decay Naked Heat Eyeshadow Palette, Charlotte Tilbury Matte Revolution Lipstick, and Emma Hardie Moringa Cleansing Balm.
CEO Joel Palix, who moved to the company from Clarins nearly four years ago, said: “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. In particular, to achieve more than 100% sales growth in China and France, compared to Black Friday last year, is testament to the success of our international expansion strategy – and we continue to develop this, and other, high growth international markets.”
Feelunique claims to be Europe’s biggest beauty e-tailer, offering over 30,000 products from 500 brands. Its giant business spans 120 markets and its has dedicated websites in the UK, France, the EU, Germany, Norway, China and the US.
Palamon paid £26 million for the business five years ago and in the year to March, the e-tailer reported sales of £80 million. It has unveiled a number of initiatives and deals this year, offering same-day delivery, launching a subscription service, and buying French site The Beautyst, having earlier opened a Paris store.
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