A prominent online beauty retailer is potentially up for sale following the engagement of advisors to conduct a business evaluation. Beauty Bay, established in 1999 by siblings Arron and David Gabbie in Manchester, offers over 200 brands on its platform, including Ariana Grande, Clinique, MAC, and its own product line.
According to a recent report by Sky News, Beauty Bay is exploring avenues to secure new funding, which might involve a complete sale of the company. The advisory firm Interpath is reportedly collaborating with Beauty Bay on this endeavor. Currently, Beauty Bay has a workforce of 65 employees.
In related news, the beauty brand Malin + Goetz has recently entered administration, leading to the closure of its seven stores across London. This move is expected to affect over 70 jobs, with online orders temporarily halted. However, customers can still purchase Malin + Goetz items through third-party retailers like Liberty, John Lewis, and Space NK.
Malin+Goetz spokesperson informed TheIndustry.beauty that after an extensive business review, the decision was made to place the UK operations into administration, resulting in store closures and job losses. The company, originally founded in New York in 2004 by Matthew Malin and Andrew Goetz, began with a small product range catering to all skin types and has since expanded into various beauty categories.
The Malin + Goetz website is anticipated to resume operations after a brief maintenance period, although the exact duration is unspecified.
