Cult Beauty
 | |
Type of site | Online shopping |
|---|---|
| Founded | 2008 |
| Headquarters | Manchester Airport, , United Kingdom |
| Owner | THG plc |
| Founder(s) | Alexia Inge and Jessica DeLuca |
| Products | Cosmetics |
| Parent | THG Beauty |
| URL | cultbeauty |
| [1] | |
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]
History
[edit]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
[edit]- ^ a b "THG Annual Report 2021" (PDF). THG plc. 9 May 2022. Retrieved 25 September 2022.
- ^ 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) - ^ Wischhover, Cheryl (27 July 2017). "It's Actually Cheaper to Shop at This UK-Based Beauty Site Than Sephora". Racked. Retrieved 31 July 2021.
- ^ Kelly, Liam. "Cult Beauty provides make-up, not make-believe". The Times. ISSN 0140-0460. Retrieved 29 July 2021.
- ^ Neel, Julia (17 July 2013). "Jessica DeLuca Talks Cult Beauty". WWD. Retrieved 31 July 2021.
- ^ a b Armstrong, Ashley. "Cult spreads its web to beat beauty halls". The Times. ISSN 0140-0460. Retrieved 5 August 2021.
- ^ Creevy, Jennifer (22 August 2011). "Net-a-Porter founders invest in Cult Beauty". Retail Week. Retrieved 29 July 2021.
- ^ "Cult Beauty appoints Carmen Busquets as chairperson". Retail Bulletin. 10 November 2020. Retrieved 7 August 2021.
- ^ 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.
- ^ "Cult Beauty taken over by the Hut Group in £275m deal". the Guardian. 4 August 2021. Retrieved 5 August 2021.