Social selling platform will join Coty’s portfolio operating within its Consumer Beauty division
Coty has acquired 60% of the social selling platform Younique for $600m in cash.
The deal will see Younique join Coty’s Consumer Beauty division as a separate business, leveraging the conglomerate’s R&D, innovation, manufacturing and supply chain resources.
The remaining 40% of the business will continue to be owned by Younique’s Founders – CEO Derek Maxfield and Chief Visionary Officer Melanie Huscroft.
Younique is a social selling website that allows members of the public or ‘Younique Presenters’ to start selling the brand’s products, such as its best-selling Moonstruck 3D Fiber Lashes+, through their own e-commerce store.
Today, Younique has approximately 200,000 active sellers and 4.1 million customers in ten countries including the US, UK, Canada, Australia, France and Hong Kong.
Coty CEO Camillo Pane said: “Derek and Melanie are tremendous entrepreneurs who have built one of the most engaging and fastest growing e-commerce companies in beauty.”
Maxfield and Huscroft will continue to lead Younique, along with the rest of the management, in partnership with Coty.
The acquisition is due to close in Coty’s Q3 2017, and is expected to be immediately accretive to Coty’s top-line growth, EBITDA margin and FY17 earnings.