Coty enters partnership with Younique, buys 60% stake for $600m
Under the proposed agreement, Coty intends to acquire 60% of Younique while the Founders will own the remaining 40%.
Younique’s Founder and current CEO, Derek Maxfield, and Chief Visionary Officer, Melanie Huscroft, will continue to lead the business in the new partnership.
Younique was founded in 2012 in the United States by siblings Derek Maxfield and Melanie Huscroft, with a mission to uplift, empower and validate women across the globe.
Younique’s innovative makeup and skin care products are sold through its disruptive peer-to-peer e-commerce platform.
This platform enables Younique’s community of independent presenters to leverage social media in marketing and distributing Younique’s line of innovative beauty products directly to consumers.
Younique’s highly scalable technology platform is built for mobile-first e-commerce and seamless global expansion, with approximately 200,000 active presenters and over 4.1 million consumers in 10 countries, including the U.S., U.K., Canada, Australia, New Zealand, Germany, Mexico, France, Spain and Hong Kong.
Younique expects to generate approximately $400 million in net revenues in 2016. ■