ASOS, the popular online fashion retailer, is reportedly considering venturing into the beauty industry by acquiring major beauty platforms Cult Beauty or Feelunique. According to Sky News, ASOS is exploring the possibility of bidding for these businesses, both of which are up for sale by their owners. However, ASOS has chosen not to comment on these rumors.

While there is no certainty that ASOS will make a bid for either platform, there are indications that the company may be interested in acquiring just one of them. Banking sources suggest that Cult Beauty and Feelunique could potentially be valued at hundreds of millions of pounds each, owing to their strong performance and increasing demand over the past year.

ASOS has been experiencing considerable growth through both organic means and acquisitions. Its biggest acquisition thus far was the purchase of notable brands formerly owned by the now-defunct Arcadia Group, including Topshop. Furthermore, ASOS has been making a more prominent entrance into the beauty sector in recent years. In fact, their half-year results from last month revealed an astounding 114% surge in sales of face and body products.

Nevertheless, ASOS would not be the only contender if it decides to pursue either Cult Beauty or Feelunique. The Sky News report also mentions that other companies like THG and Zalando are believed to be interested in potentially acquiring these beauty platforms.

Acquiring Cult Beauty or Feelunique would allow ASOS to further solidify its position in the beauty industry by tapping into the growing demand for cosmetics and skincare products. With its successful track record in the fashion realm, ASOS has the potential to utilize its existing customer base and digital capabilities to thrive in the beauty market as well. As the online shopping landscape continues to evolve, it will be intriguing to witness how ASOS navigates this potential expansion into the beauty sector and how it could potentially reshape the industry.

Useful links:
1. Cult Beauty website
2. Feelunique website