Cult Beauty up for sale?

Cult Beauty up for sale?

Cult Beauty is said to be exploring the possibility of a sale. The company has bought in JP Morgan to advise on its strategic options, according to a report published by City AM quoting Sky News as its source.

If founders Jessica DeLuca and Alexia Inge do decide to proceed with a sale, it would likely not take place until next year. The business is expected to fetch hundreds of millions of pounds thanks to its rapid growth – sales increased nearly two-fold in the year to May 2018, reaching £68.9 million.

Both Cult Beauty and JP Morgan declined to comment when approached by Sky News.

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