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Online cosmetics store, Beauty Bay is reportedly considering a stock market listing, following the surge in valuation fellow digital retailer The Hut Group (THG) experienced earlier this year.
According to Sky News, the company which was created by Arron and David Gabbie, is in talks with investment bank GCA Altium to review its strategic options.
Insiders have suggested a flotation will be a likely option for the brand following the surge in the valuation of THG, however the business is reportedly not looking to go ahead with the listing until late next year.
The eCommerce store which sells make-up and skincare products is said to have grown to 50% during Covid-19.
It follows news in August that THG intended to launch a stock market flotation that values the company at around £4.5bn.
The move has proven successful for the brand, with reports last month suggesting that CEO Matthew Moulding is set to receive an £830m shares payout after the company’s share price increased significantly.
Prior to the flotation Moulding said: “Our intention to float THG on the London Stock Exchange reflects the achievements of the past but also our strong belief in the significant potential for THG in the future.
“THG has enjoyed strong growth since being founded in 2004, employing more than 7,000 people and establishing a track record of consistent delivery for our customers.”
He added: “The brands we own today give us leading strategic positions in prestige beauty and nutrition, powered by Ingenuity, our differentiated proprietary direct-to-consumer e-commerce solution.”
Retail Sector has contacted Beauty Bay for a comment
