Led by Younique’s Founder and CEO Derek Maxfield and Chief Visionary Officer Melanie Huscroft, the new partnership will combine the company e-commerce platform and direct-to-consumer business model with Coty’s beauty product R&D and industry and innovative expertise.
Camillo Pane, Coty’s Chief Executive Officer, said, “Derek and Melanie are tremendous entrpreneurs who have built one of the most engaging and fastest-growing e-commerce companies in beauty. Alongside the rest of Younique’s team and in partnership with their presenters, they have been able to impact the lives of millions of consumers across a number of countries with a mission to uplift and empower women. We look forward to working with them to continue supporting this mission and building Younique into a leading e-commerce beauty business.”
Coty will fund the acquisition through cash on hand and available debt facilities, which is said to have a marginal effect on Coty’s leverage ratio. The deal is expected to close during Coty’s 2017 fiscal quarter.
Younique will operate as a separate business under Coty’s consumer beauty division.