JD Sports Fashion is advancing for a takeover of Gen Z beauty and fashion sensation Missguided, according to reports.
Sky News reported that the retailer, helmed by high street businessman Peter Cowgill, is one of ‘a number of parties’ in discussions with Missguided’s founder Nitin Passi and his company advisers.
While a decision is not thought to be imminent, the successful buyer, whoever they may be, is anticipated to inject tens of millions of pounds into the lucrative business.
JD’s proposal is thought to involve the acquisition of a controlling stake in the business, but it has not been confirmed if Passi would hand over a majority share of his business.
While Missguided has long been a competitor in the fragrance category, 2021 was the year it underlined its presence as a key player in the beauty sector.
In January this year, the fast fashion brand broke into the colour cosmetics market with an extravagant line of 148 skus.
Mirroring its competitively priced fashion line, Missguided’s beauty products range from £3-£12, and focus on three product categories: face, eyes and lips.
Its hero Meet Your Match Demi-Matte Foundation is available in 25 shades, alongside a selection of contour sticks and liquid concealers.
Shoppers have a choice of 20 colours for its Gimme Lip Lipstick line in matte and gloss finishes.
As well as brow and mascara essential products, the brand has tapped into trending beauty looks of yore with its Frecks Appeal Freckle Pen, Multi-Use Dew Gloss and Hi-Lit Liquid Highlighter.
Passi founded his fortune when he was just 26 in 2009, and has grown to become one of Britain’s biggest online-led fashion and beauty sellers, competing alongside Asos and Boohoo.
Cosmetics Business has contacted Missguided for further comment.