ASOS may possibly click on with on-line magnificence platforms Cult and Feelunique | Business Information

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ASOS, the online style retailer, is exploring opportunity bids for two major online natural beauty platforms as it proceeds to diversify its solution variety outside of clothing. Sky Information has learnt that ASOS is among the doable suitors for Cult Beauty and Feelunique, both equally of which have been place […]

ASOS, the online style retailer, is exploring opportunity bids for two major online natural beauty platforms as it proceeds to diversify its solution variety outside of clothing.

Sky Information has learnt that ASOS is among the doable suitors for Cult Beauty and Feelunique, both equally of which have been place up for sale by their existing owners.

Metropolis sources explained that a formal bid from the London-detailed team for either enterprise remained an uncertain prospect, and that it was only anticipated to pursue a person – if both – of the two targets.

Picture:
ASOS before this 12 months purchased the Topshop and Topman brand names

If one particular did materialise, on the other hand, it would underline ASOS’s desire in increasing its existence in the natural beauty class right after revealing in its fifty percent-12 months success in April that experience and entire body merchandise revenue experienced grown by a history 114%.

The two Cult Attractiveness and Feelunique are doing the job with advisers on sale processes as they search for to capitalise on increasing demand from customers from on the internet shoppers throughout the coronavirus pandemic.

The two companies could command valuations in the low hundreds of thousands and thousands of kilos, according to banking sources.

A takeover of both system by ASOS would characterize a different critical acquisition from the company subsequent its £330m invest in of the TopShop and TopMan models from the administrators to Arcadia Team earlier this calendar year.

Industry insiders say that other strategic players in the on-line beauty sector, together with THG Holdings, father or mother of The Hut Group, and German-based mostly rival Zalando are also expected to examine provides for Cult Magnificence and Feelunique.

Bids are understood to be because of for equally businesses in the coming weeks.

An ASOS spokeswoman declined to comment.

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