French cosmetics group Sephora has reportedly agreed a takeover deal with Jersey-based beauty retailer Feelunique for £132m.
According to ITV News, the deal will include Feel Unique’s online arm as well as its three Channel Islands stores.
The deal marks an expansion into the UK by the LVMH owned cosmetics retailer, which currently operates over 2,600 stores across 35 countries.
Founded in 2005 by Richard Schiessl and Aaron Chatterley, Feelunique now stocks brands such as Chanel, Dior, and Clarins to its European customer-base.
Reports had claimed that online retail giant Asos was eyeing a move for Feelunique in May as part of a double acquisition paired with Cult Beauty.
The interest followed a “strong” performance during Feelunique’s golden quarter, as sales soared 39% year-on-year to £28m for the 12 weeks ended 3 Janurary 2021.
Retail Sector has contacted both LVMH and Feelunique for comment.