Pure Beauty

Is Unilever about to buy Space NK?

Published: 17-Jul-2018

Manzanita Capital, the owner of Space NK, is reportedly looking for a new owner for the beauty retailer

The owner of Space NK is planning to sell the premium beauty retail chain, according to The Evening Standard.

Manzanita Capital, which also owns diptyque, Byredo and Eve Lom, is reported to be looking for a new buyer for the multi-brand retailer.

Unilever is said to be interested in the opportunity, according to sources.

A takeover would be the first of its kind for the consumer goods giant, which currently owns brands such as Dove, Sure and Vaseline, but no UK retailers.

However, Unilever has been taking strides into the premium beauty sector in recent years, acquiring REN Skincare, Kate Somerville Skincare and Living Proof.

Space NK is known for its edit of high-end beauty brands and currently stocks a number of Unilever-owned brands including REN Skincare and Living Proof.

At the start of this year it inked a retail deal with Jo Loves, the fragrance brand created by entrepreneur Jo Malone, while in March it started stocking eco-conscious fragrance brand Clean Reserve.

Space NK generated sales of £96.4m in the fiscal year to 25 March 2018.

Today it operates more than 60 stores in the UK and in 2016 opened a new flagship on London's Regent Street called 'Innovation by Space NK'.

Manzanita was contacted for comment.

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