French personal care and beauty brand Sephora has completed its acquisition of UK-based online prestige beauty retailer Feelunique.
The financial terms of the transaction have not been disclosed, but it is reported to be valued at £132m ($177.7m).
In July, Sephora entered an agreement with Palamon Capital Partners and other shareholders to purchase Feelunique.
Based in London, Feelunique serves 1.3 million active customers with 35,000 products from more than 800 established brands.
These include Chanel, Clinique, Estée Lauder, Aveda, Tom Ford, NARS, Armani, Dermalogica, Charlotte Tilbury, Anastasia, Huda Beauty and Clarins.
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By GlobalDataThe company ships to more than 120 countries and has dedicated websites in the US, China, France, Germany and Norway.
Sephora president and CEO Martin Brok said: “Feelunique is known for their unparalleled customer experience, deep e-commerce expertise and knowledge of the UK consumer.
“We look forward to learning from each other and writing a new chapter together.”
Since acquiring Feelunique from its founders for $41.97m in 2012, Palamon has worked with the company to strengthen its market position through infrastructure building and growth.
Following the acquisition, Feelunique will continue to be led by its current management team.
Feelunique CEO Sarah Miles said: “Sephora is an iconic retailer in the prestige beauty space in Europe.
“We are looking forward to working together and leveraging our respective strengths.”
The acquisition comes after Sephora partnered with Germany-based e-commerce company Zalando to strengthen its online business and pursue further expansion in the British market.
The partnership began operating in Germany in the fourth quarter of this year, with plans to work in other Zalando markets from next year.
In January, Sephora announced a preliminary action plan to tackle racism and unfair treatment at its stores.
The outlined changes focused on the areas of marketing and merchandising, in-store experience and operations, and talent and inclusive workplaces.
