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Cult Beauty
Online beauty retailer From Wikipedia, the free encyclopedia
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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]
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History
Cult Beauty was established in 2007[2] 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.[3] DeLuca came up with the idea while shopping for beauty products.[4] Inge reportedly became frustrated while working as a model by the "illusion" of brands not being accurately represented in celebrity makeup endorsements.[5] The website offered a curated list of around 250 products based on a panel of unaffiliated experts’ recommendations.[6][7][8]
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.[9] Carmen Busquets was appointed chair of the board in October 2020.[10]
Although based in the UK, most of the Cult Beauty's business was from international sources.[8] The company recorded sales growth to £123.4 million in 2020, citing the surge in online shopping during the COVID-19 pandemic.[11]
In August 2021, Cult Beauty was acquired by THG plc in a £275 million deal.[12]
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References
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