A brand insider says the company is “not immune” to global economic volatility
Jade Thirlwall of Little Mix for Beauty Bay
According to Sky News, Gen Z-focused online cosmetics retailer Beauty Bay has dropped plans to list an initial public offering.
Said to have been planned for the past year, a brand insider said the company was “not immune” to economic volatility, despite having no debt.
City sources said the company, which sells products from Coco & Eve, Molly Mae’s Filter and The Ordinary, as well as its own skin and makeup lines, may consider a partial sale to new investors.
The company may also attempt to buy other brands as it continues to expand in other ways.
Founders Arron and David Gabbie – who are brothers – have appointed Threadstone Capital, a US company, to advise the company on its next steps.
Threadstone brokers oversaw the sale of Cult Beauty to THG last year.
The current economic climate has been made worse by Russia’s invasion of Ukraine, while rising inflation has halted London’s IPOs.
High inflation is also weighing on markets around the world.
Coty has terminated plans to list on the Brazilian stock market due to weakness in the region’s financial market.
Beauty Bay declined to comment on its IPO decision.