Feelunique seeks strategic investor
Friday 11 February 2011
Feelunique, the online beauty product retailer, is seeking a strategic investor to drive forward its growth.
The internet specialist is in advanced talks with corporate finance advisers at Grant Thornton, the accountancy firm, to explore strategic options.
Feelunique, which declined to comment, sells about 400 brands including Clarins, Elemis and Elizabeth Arden. It is likely to pursue selling a minority stake to a strategic investor, which would join the board and add value. But the Jersey-based retailer, which was founded in 2005, is not seeking to sell the firm.
For the year to 31 March, Feelunique expects to deliver pre-tax profits of up to £1.1m, on turnover as high as £20m. Its online rival Lookfantastic was sold to The Hut Group for £19.4m at the end of last year.
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