The online beauty retailer has reportedly hired JP Morgan to advise on a potential sale
Cult Beauty's 2019 advent calendar sold out in under two hours
Image: via Instagram @cultbeauty
Cult Beauty, the online beauty retailer, is said to be exploring options leading to a sale.
The company has hired JP Morgan to advise on a potential sale of the business, reported Sky News.
Cult Beauty told Cosmetics Business its policy dictates that it does not comment on rumours or market speculation.
Sources are said to have revealed that founders Alexia Inge and Jessica DeLuca, alongside the company’s external investors, could choose to sell some of their shares, as opposed to all.
A formal process is not believed to be underway, Sky News continued, and a transaction may not be on the cards until 2020.
Cult Beauty aims to help consumers identify and buy the best beauty products on the market.
Brands stocked include Anastasia Beverly Hills, Charlotte Tilbury, Drunk Elephant, Huda Beauty and The Ordinary.
On the retailer’s website, Inge writes: "One day Jessica and I decided to analyse our bathroom beauty stash and tot up the cost of the quarter-used products we’d wasted our hard-earned money on (I dare you to try it!).
“For me, this amounted to just shy of £900, which provided the 'shove' we required to start on our quest to curate a beauty hall of fame: our own authoritative treasure trove of products that our customers could trust."
Cult Beauty was founded in 2007.