Beauty Bay eyes outright sale after ditching London IPO plans
Online marketplace Beauty Bay has recruited bankers to look at options including a sale, after previously eyeing a London listing.
Beauty Bay has reportedly hired Threadstone Capital to advise it as it mulls options including a full or partial sale, or snapping up other firms to further its expansion ambitions.
The beauty platform is now unlikely to resuscitate previous plans to go public, according to Sky News.
While sources told Sky News the firm would be impacted by rising costs like its peers, they said Beauty Bay had seen trading performance surpass its pre-pandemic levels.
It had been reported that the company, founded by brothers Arron and David Gabbie in 1999, had been hoping to follow in the footsteps of The Hut Group after its blockbuster listing in 2020.
However, THG has since seen its share price dive after several bleak headlines about the lifestyle firm.
Companies have hesitated to make London listings this year amid market volatility, exacerbated by war in Ukraine and rapidly rising inflation.