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Online beauty platform Beauty Bay has reportedly hired bankers to explore options for the group after plans for its IPO stalled.
According to Sky News, it has drafted in US-based Threadstone Capital, which previously advised Cult Beauty on its sale to THG, to advise it.
Sources told Sky that options for the group could include a full or partial sale to new investors, as well as the acquisition of other businesses to further the group’s expansion.
It comes as sources said the group was “not immune” to recent inflationary pressures, but noted its recent trading had been stronger than the immediate pre-Covid period.
According to Sky, the group will be “unlikely to revive” the prospect of a flotation, which was initially planned for last year, in light of current market volatility exacerbated by the Ukraine crisis.
Beauty Bay has been contacted for comment.
