Illamasqua, co-founded by well-known Yorkshire marketing entrepreneur and Connect Yorkshire EIR Julian Kynaston, has been acquired in a £25m deal.
The Hut Group, one of the world’s largest online health and beauty retailers has acquired Illamasqua, a leading prestige cosmetics brand founded in 2008.
The makeup brand was launched by Propaganda founder Julian Kynaston, alongside Nick Brown of FMG and Gary Douglas from ghd.
Illamasqua has branded stores located in Leeds, Liverpool and London and its products are stocked in Selfridges and Debenhams in 15 locations across the UK.
The brand also offers makeup courses within The Illamasqua School of Make-up Art in London, helping to nurture the next generation of qualified artists and enthusiasts.
Kynaston said: “I am truly excited about The Hut Group’s acquisition of Illamasqua.
“We have been working with THG for over a year now and have seen great successes, so this move was a natural step for the brand.
“Finding the right partner, with whom we could align our vision for the future, was of crucial importance and I’m in no doubt that The Hut Group’s digital strength and marketing expertise will take Illamasqua to the next level.”
Matthew Moulding, founder and chief executive officer of The Hut Group, said: “I am delighted we are adding Illamasqua to The Hut Group’s growing portfolio of beauty brands.
“In Illamasqua’s unwavering commitment to professional, high-quality products and creativity, not to mention its strong identity, we saw a business with a unique proposition and an opportunity to take a strong and dynamic brand to the next level.
He added: “We are confident that, with our world-class e-commerce platform and large marketing infrastructure, we will deliver significant growth and further extend Illamasqua’s global customer base.
“This investment is another step in our ambition of becoming the world’s largest online retailer of Health & Beauty products by 2018.”