Beauty Bay to review strategic options as it drafts in advisors

Manchester-based beauty platform Beauty Bay has reportedly appointed Threadstone Capital to advise it on strategic options after it pulled back from a planned float on the London Stock Exchange last year. 

The company has reportedly reached out to the US-based firm as it previously advised Cult Beauty on its sale to THG in 2021.

The online beauty platform was founded over 20 years ago by the brothers Arron and David Gabbie, who are still the majority owners, and sources "hard to find" brands such as Anastasia Beverly Hills, MIJ Masks and inclusive beauty brand Glowb.

The platform has over 12,000 products on site with weekly new launches. "From cut creases to face masks, we’re the go-to destination for the beauty obsessed who look to us to seek, discover and showcase the ultimate selection of planet Earth’s beautifiers," the company says.

According to Sky News sources, Beauty Bay was examining a full or partial sale to new investors, but could also opt to acquire other businesses as it continues to expand. Sources also suggested that Beauty Bay is unlikely to prospect its IPO plans, which had been planned since last year, as Russia's invasion of Ukraine has increased market volatility.

For the year ending 31 March 2021 Beauty Bay revealed a surge in sales caused by consumers switching to online shopping during the COVID-19 pandemic. It reported a £134 million turnover, representing an increase of 63% compared to financial year 2020.