Hut Group continues its spending spree, picking up cult beauty brand Illamasqua in a deal reported to be worth £25MM. The deal comes hot on the heels of The Hut Group’s biggest acquisition to date when it bought luxury spa and skincare brand ESPA last month.
WHO: British makeup brand Illamasqua was founded in 2008 by marketing guru Julian Kynaston to reflect his passion for subcultures. With no previous beauty experience, he’s built a brand that pushes the envelope on convention and is known for its bold, playful, theatrical style of makeup. In 2002, punk royalty Joseph Corré, the son of Vivienne Westwood and Malcolm McLaren, joined the brand as co-owner. The brand has stores in Leeds, Liverpool, and London and also offers makeup courses within the Illamasqua School of Make-up Art in London.
WHY: THG has made their intention of becoming the largest online retailer of health and beauty clear. This transaction is one more step to that goal.
IN THEIR OWN WORDS: “I am delighted we are adding Illamasqua to The Hut Group’s growing portfolio of beauty brands,” Matthew Moulding, founder and chief executive officer of The Hut Group, told Retail Week. “We saw a business with a unique proposition and an opportunity to take a strong and dynamic brand to the next level. We are confident that we will deliver significant growth and further extend Illamasqua’s global customer base.”
Kynaston of Illamasqua said the brand had been working with The Hut Group for over a year “and have seen great successes, so this move was a natural step for the brand. Finding the right partner, with whom we could align our vision for the future, was of crucial importance, and I’m in no doubt that The Hut Group’s digital strength and marketing expertise will take Illamasqua to the next level.”
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