Cult Beauty exceeds £100m in sales with ‘robust’ business strategy

The beauty retailer’s net revenue has seen a 31% increase year-on-year for 12 months to 31 December

Cult Beauty has reported net sales of £104m for the 12 months to 31 December 2019, resulting in a net revenue growth of 31% year-on-year.

Over the last year, Cult Beauty launched seven country-specific websites including Ireland, Germany, Spain, the Netherlands, Italy, France and Poland.

Meanwhile, the site’s average order value worldwide has risen by almost 20%.

Cult Beauty’s co-founder Alexia Inge said the company’s “robust” and “evolving” business strategy has been instrumental in the company’s success.

“We achieved this as a trusted multi-brand e-tailer with a focus on expert curation and reputation as the place to go for beauty discovery and incubating trends,” she said.

“We are incredibly proud that Cult Beauty continues to grow, while we see other retailers suffering as they throw more and more products at the already beauty confused.

“Our customers keep coming back because they trust us to provide them with the best advice and cult products on the market.”

Last week, the site launched a new ‘Skindie’ category hosting 19 indie skin care brands in an effort to cater for consumers who are “resistant to categorisation”.

Inge continued: “Over the last year we have introduced some fantastic new and exclusive indie brands, such as Milk Makeup, Augustinus Bader, Patrick Ta and Versed, as well as international favourites like It Cosmetics and Korean Dr. Jart+.”

Today, the retailer offers hundreds of brands across skin, hair and body care, as well as wellbeing, male grooming, beauty tools and make-up.

Find out how to get stocked at Cult Beauty by reading Cosmetics Businessexclusive interview with Cult Beauty’s International Buying Director, Stacia Prince.

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