Cult_Beauty

Cult Beauty

Cult Beauty

Online beauty retailer

Cult Beauty is a web store which sells cosmetics and specialises in independent brands. It was acquired by THG plc for £291.3m in 2021 and migrated into the company's Ingenuity e-commerce platform.[1]

Quick Facts Type of site, Founded ...

History

Cult Beauty was established in 2008 by Jessica DeLuca and Alexia Inge with the aim to simplify hair and beauty retail online. The brand had a focus on sustainable beauty and transparency within the industry.[2] Inge reportedly became frustrated while working as a model by the "illusion" of brands not being accurately represented in celebrity makeup endorsements.[3] The website offered a curated list of around 250 products based on a panel of unaffiliated experts’ recommendations.[4][5][6]

In 2011, the brand received the first round of investment from Murray Salmon, former Chief Financial Officer of Net-a-Porter and Mark Quinn-Newall, a co-founder of Net-a-Porter.[7] Carmen Busquets was appointed chair of the board in October 2020.[8]

Although based in the UK, most of the Cult Beauty's business was from international sources.[6] The company recorded sales growth to £123.4 million in 2020, citing the surge in online shopping during the COVID-19 pandemic.[9]

In August 2021, Cult Beauty was acquired by THG plc in a £275 million deal.[10]

References

  1. [1]
    "THG Annual Report 2021" (PDF). THG plc. 9 May 2022. Retrieved 25 September 2022.
  2. [2]
    Romano, Esther Newman,Kristine. "12 Clean, Cruelty-Free & Vegan Beauty Brands To Shop Right Now". www.refinery29.com. Retrieved 7 August 2021.{{cite web}}: CS1 maint: multiple names: authors list (link)
  3. [3]
    Wischhover, Cheryl (27 July 2017). "It's Actually Cheaper to Shop at This UK-Based Beauty Site Than Sephora". Racked. Retrieved 31 July 2021.
  4. [4]
    Kelly, Liam. "Cult Beauty provides make-up, not make-believe". The Times. ISSN 0140-0460. Retrieved 29 July 2021.
  5. [5]
    Neel, Julia (17 July 2013). "Jessica DeLuca Talks Cult Beauty". WWD. Retrieved 31 July 2021.
  6. [6]
    Armstrong, Ashley. "Cult spreads its web to beat beauty halls". The Times. ISSN 0140-0460. Retrieved 5 August 2021.
  7. [7]
    Creevy, Jennifer (22 August 2011). "Net-a-Porter founders invest in Cult Beauty". Retail Week. Retrieved 29 July 2021.
  8. [8]
    "Cult Beauty appoints Carmen Busquets as chairperson". Retail Bulletin. 10 November 2020. Retrieved 7 August 2021.
  9. [9]
    Halliday, Sandra (11 June 2021). "Cult Beauty sales surge as it gains new customers in UK, Europe". Fashion Network. Archived from the original on 29 July 2021.
  10. [10]
    "Cult Beauty taken over by the Hut Group in £275m deal". the Guardian. 4 August 2021. Retrieved 5 August 2021.
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This article uses material from the Wikipedia article Cult_Beauty, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.