The renowned sportswear retailer from the UK, JD Sports, has now entered the beauty market following its investment in Hairburst – an online beauty and hair brand.
The move hasn’t come as a surprise considering the sportswear retailer had been planning to foray into the beauty market for some time now. Finally, it has happened.
The British sports fashion retailer has bought a stake in Hairburst that was founded in 2014 and today has more than 1.5 million followers across social media.
Notably, the size and the value of the deal haven’t been revealed as yet.
However, if media reports are anything to go by, JD Sport will help assist the beauty brand in buying a number of bolt-on acquisitions to grow its collection of beauty labels.
Importantly, this may also mark the growth of online brands within the fast-growing beauty market.
Some shareholders have been skeptical of the retailer’s decision to focus on areas where it doesn’t have expertise. However, Executive Chairman Peter Cowgill has played down JD Sports’ interest in other firms.
Peter said JD Sports looks at everything which either expands its geographical reach or sells other products which are relevant to a style-conscious consumer.
Earlier this year, the British sports retailer also said that it is now in talks to acquire the well-known online fashion retailer Missguided.
Also Read: British sports retailer JD Sports in talks to acquire fashion e-tailer Missguided
Founded in 1981, JD Sports has stores across the UK, Europe, the US, Asia, New Zealand and Australia.
