Yorkshire beauty business acquired in £25m deal
Leeds-based beauty brand Illamasqua has been acquired by an online health and beauty retailer for a reported £25m.
The Hut Group (THG), one of the world’s largest online retailers and brand owners, has announced the acquisition of Illamasqua.
Illamasqua, founded in 2008 by Julian Kynaston, is an award-winning brand renowned for its professional-grade products. Joseph Corré joined the brand as co-owner in 2010.
The brand is well-known in the beauty industry for its creativity and campaigns which celebrate diversity. With a theatrical heritage, its professional products have gained a cult following from customers and make-up artists, including Hydra Veil and Beyond Powder.
Since its launch, Illamasqua has also upheld a strong commitment to never permit animal testing on any of its products, a principle that The Hut Group will continue to support.
Illamasqua has branded stores located in Leeds, Liverpool and London. Its products are also stocked in Selfridges and Debenhams in 15 locations across the UK and are available direct to customers online. The brand also offers make-up courses within The Illamasqua School of Make-up Art in London.
THG is Europe’s largest retailer of premium beauty products – including MAC, Bobbi Brown, Estée Lauder and Lancôme – through Lookfantastic.com, and also owns a host of luxury Beauty brands including ESPA, Mio Skincare, Mama Mio, Grow Gorgeous, and GLOSSYBOX.
Matthew Moulding, founder and chief executive officer of The Hut Group, said: “I am delighted we are adding Illamasqua to The Hut Group’s growing portfolio of beauty brands. In Illamasqua’s unwavering commitment to professional, high-quality products and creativity, not to mention its strong identity, 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, with our world-class e-commerce platform and large marketing infrastructure, we will deliver significant growth and further extend Illamasqua’s global customer base. This investment is another step in our ambition of becoming the world’s largest online retailer of Health & Beauty products by 2018.”
Julian Kynaston, founder and chairman of Illamasqua, said: “I am truly excited about The Hut Group’s acquisition of Illamasqua. We have been working with THG for over a year now 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.”
