Beauty retailer Feelunique has received a new investment from existing shareholder Palamon Capital Partners and two new co-investors.
The £20m investment comes as the company releases its latest financial results. In the UK, Feelunique saw revenue shoots up 38% with total retail sales for the year ended 31 March 2016, up 23% year-on-year to £65m.
Joel Palix, CEO of Feelunique, said: “We are delighted that Palamon have increased their financial commitment alongside two new co-investors at this very exciting time for the business. Our financial results show the strength of the brand in the UK and with strong consumer demand for our unrivalled brand portfolio coming from all corners of the world, it is clear that the business has expansive growth potential. We look to the future with confidence as Feelunique leads with its universal and diverse approach to beauty – one without boundaries.”
Feelunique has been on a growth trajectory for since its inception in 2005. At the end of last year, the company acquired Parfumeries Rive Droite, a French perfumery chain with four bricks-and-mortar doors. The acquisition represented the first time a UK beauty retailer expanded into France through an acquisition of an established beauty retail chain.
Feelunique hopes to elevate its position as a beauty retailer of high-end brands including YSL, Chanel, Dior, Tom Ford, Laura Mercier, Kiehl’s and many more.
The company is expanding its global reach as well, with its website now available in five languages: English, French, Spanish, German and Chinese. Its website now receives on average 120,000 visits per day.
