A leading online beauty retailer is reportedly considering a potential sale following the engagement of advisors to assess the company’s operations. Established in 1999 in Manchester by siblings Arron and David Gabbie, Beauty Bay offers a wide array of products from over 200 brands, including Ariana Grande, Clinique, MAC, and its own product line.
According to a recent report by Sky News, Beauty Bay is exploring various options to secure additional funding, with a potential sale of the business being one of the considerations. Interpath, an advisory firm, is said to be collaborating with Beauty Bay on this matter.
Currently, Beauty Bay has a workforce of 65 employees, and inquiries have been made to the company by Mirror for comments.
In other industry news, the beauty brand Malin + Goetz has gone into administration, leading to the closure of its seven stores in London. This move is expected to impact more than 70 jobs, with online orders temporarily suspended. Shoppers can still purchase Malin + Goetz products through third-party retailers like Liberty, John Lewis, and Space NK.
A spokesperson from Malin+Goetz informed TheIndustry.beauty that after a thorough assessment of the business, they had to make the tough decision to place their UK operations into administration, resulting in store closures and job losses.
It has been indicated that Malin + Goetz’s website will be back online after a brief maintenance period. The brand, founded in New York in 2004 by Matthew Malin and Andrew Goetz, initially offered six products catering to various skin types but has since expanded into fragrance, bodycare, and other beauty segments.