07.19.21
Sephora is set to purchase Europe's online beauty retailer 'Feelunique,' based in London.
Palamon Capital Partners owns a majority stake in Feelunique, which targets young Millennials and Gen Z.
The Sunday Times of London reports that the deal marks Sephora's first big push into the UK, and is worth 132 million GBP (equivalent to approximately $181.7 million USD).
LVMH owns Sephora.
Yahoo Finance explains the deal's significance, reporting, "Sephora has long been locked out of the UK market due to the dominance of Boots. In addition, because of duties resulting from Brexit, Sephora no longer delivers products to the UK."
