Space NK is said to be exploring sale options.
The beauty retailer’s owner Manzanita Capital is said to be in talks with bankers to oversee a full or partial sale of the business, with a rumoured price tag of £400m, according to Sky News.
The private investment company, which also owns Diptyque, Byredo and luxury fragrance brand D.S. & Durga, first invested in Space NK in 2002.
It is said to be “undecided” about whether to sell a minority or controlling interest in the retailer.
Space NK did not confirm whether it was exploring a sale.
However, CEO Andy Lightfoot told Cosmetics Business: "Having just closed our financial year with record results, up 32% year on year (following 23% the prior year) it would be a surprise if we didn't retain advisors to input on our next phase of growth.
"We are setting exciting plans for the future which will continue to raise the bar in UK beauty retail."
The retailer, which was founded by Nicky Kinnaird in 1993, previously explored a sale in 2018, hiring Goldman Sachs to oversee the process.
However, it ultimately decided not to proceed with the deal.
The latest sale reports follow a bumper sales period for Space NK, which saw a 23% increase in sales to £146.6m for the financial year ending March 2023.
The retailer is also planning a rapid store expansion, with at least four more stores set to open in 2024 in the UK and Ireland.
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