Feelunique put the $28.4 million capital raised last year to work, snapping up The Beautyst to accelerate European expansion and boost its appeal to millennial shoppers. Europe represents the third-largest market for online beauty, and The Beautyst has a well-established online beauty community.
WHO: Launched in 2011, The Beautyst is a centralized source for collaborative information on all things beauty. It has become one of the most established beauty communities in France with more than 1,300 bloggers and over 600,000 followers across its social networks. It also brings together new and upcoming beauty brands through its online marketplace.
Feelunique was founded by Aaron Chatterley and Richard Schiessl in 2005 and is the leading e-tailer in Europe, launched its French website two years ago, and opened a brick-and-mortar store in 2016. The Business also has dedicated websites in Germany and China. They stock 450 brands and over 20,000 make-up, skin care perfume, accessory and electrical products and sells more than 15,000 products every day. According to WWD, 93% of Feelunique’s sales come from online, and 7% from its physical stores in France and the Channel Islands.
WHY: The acquisition of Beautyst strengthens their appeal to millennials while accelerating European expansion.
IN THEIR OWN WORDS: Joel Palix, CEO of Feelunique, told Cosmetic Business, “The acquisition of The Beautyst further accelerates our vision of becoming the leading player in online beauty in France, which is a strategically important market to us given its currently low online penetration.”
- Feelunique acquired The Beautyst. Terms of the transaction were not released.
- Feelunique received a new investment in Q2 2016 from existing shareholder Palamon Capital Partners and two new co-investors. Palamon committed 5 million pounds to Feelunique.com alongside two co-investors for a total 20 million pound infusion of capital.
- The Beautyst has been rebranded to The Beautyst by Feelunique as part of a long-term merger of the retailers to form a single platform and combined customer bases.