Beauty Bay, the online beauty retailer, is allegedly exploring options to sell the business.
The British company is rumoured to have appointed advisers from consultancy firm Interpath as it allegedly sets out to undertake a strategic review, according to a new report by Sky News.
A process to seek new investment is rumoured to kick off this week, the source allegedly told the publication.
Cosmetics Business has contacted Beauty Bay and Interpath for comment.
Founded as Fragrance Bay in 1999 by brothers Arron and David Gabbie, Beauty Bay sells products from more than 200 brands, including Anastasia Beverly Hills, Beauty of Joseon and The Inkey List.
It also has its own-label range, By Beauty Bay, which spans hair care, body care, colour cosmetics, skin care, tools and accessories.
Sky News’ source also alleged that the business was seeking a buyer or investor in the hopes of stabilising the business as it seeks to grow and expand the By Beauty Bay range.
This comes a few years after the business was rumoured to be launched as a public company, only to abandon IPO plans in May 2022 due to inflation.
Sales went on to fall by £40m that same year.
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