ASOS looks to diversity beyond fashion; eyes buyout of Cult Beauty or Feelunique

ASOS looks to diversity beyond fashion; eyes buyout of Cult Beauty or Feelunique

THE WHAT? ASOS is said to be among the interested parties in Cult Beauty and Feelunique as it looks to expand and diversify beyond fashion, according to Sky News. 

THE DETAILS The two personal care and beauty websites have recently been put up for sale, with City sources stating that the online retailer’s bid is uncertain, and it would only pursue one, not both. 

Cult Beauty and Feelunique are working with advisors on the sale process and are said to be looking to capitalize on growing demand due to the pandemic. 

Other potentially interested parties are reported to be THG Holdings and Germany-based Zalando. 

THE WHY? The potential beauty buy-out from ASOS is a clear indictor of the fashion retailer’s intention to continue its ongoing expansion, and follows the £330 million acquisition of the Topshop and Topman brands from the administrators of the Arcadia Group earlier this year. 

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