The US retailer has bought DermStore.com
US discount chain Target has tapped into the growing online beauty retailing market with the acquisition of the DermStore Beauty Group. The transaction is said to expand Target’s share of the rapidly evolving online beauty market and will see DermStore become a new, wholly owned subsidiary of the US retail chain.
DermStore will continue to operate as a separate entity under its online name, DermStore.com while the company’s current CEO Dan Obegi, will be president of the wholly owned subsidiary and report to Casey Carl, President of Multichannel and SVP, Enterprise Strategy, Target.
"There is no doubt that the online beauty industry is growing rapidly, and this unique opportunity enables Target to gain insight into the superior, online customer experience DermStore provides," said Carl. "Not only will DermStore's 750-plus brands offer Target expanded breadth across the beauty and skincare industries, but also access to exceptional content and helpful resources we know consumers want."
DermStore was founded in 1999 and features over 26,000 skus from brands including SkinMedica, SkinCeuticals, Obagi and Dermalogica. The company recently launched two additional websites: hairenvy.com and blush.com, in a bid to ramp up its offering in cosmetics and hair care.