Beauty Packaging Staff01.04.21
Target Corp. has agreed to sell its online beauty and skin care business unit Dermstore to British e-commerce company THG Holdings for $350 million in cash.
Target acquired Dermstore in 2013 to expand its beauty business. The brand offers beauty products and cosmetics subscription services through an online platform and sells nearly 350 different brands in its product lineup. Dermstore has sales of about $200 million.
“THG will be able to increase the scale of its beauty box business by accessing the Dermstore.com customer base, which will in turn unlock incremental marketing revenue," said THG. "The Dermstore.com acquisition also provides the opportunity to accelerate the growth of THG's own beauty brands via a new and large U.S. customer base.”
THG Holdings expects to receive antitrust clearance for the deal from U.S. regulators next month.
Target acquired Dermstore in 2013 to expand its beauty business. The brand offers beauty products and cosmetics subscription services through an online platform and sells nearly 350 different brands in its product lineup. Dermstore has sales of about $200 million.
“THG will be able to increase the scale of its beauty box business by accessing the Dermstore.com customer base, which will in turn unlock incremental marketing revenue," said THG. "The Dermstore.com acquisition also provides the opportunity to accelerate the growth of THG's own beauty brands via a new and large U.S. customer base.”
THG Holdings expects to receive antitrust clearance for the deal from U.S. regulators next month.
