Coty will pay approximately US $600 million in cash to acquire 60% of Younique, a leading online peer-to-peer social selling platform in beauty.
Younique was founded in 2012 in the United States by siblings Derek Maxfield and Melanie Huscrof. The brand’s makeup and skin care products are sold through a disruptive peer-to-peer e-commerce platform. This platform enables Younique’s community of independent presenters to leverage social media in marketing and distributing the brand’s lines 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,” explains Coty.
Younique’s founders will own the remaining 40%. Younique will operate as a separate business within Coty’s Consumer Beauty division and will continue to be led by its current CEO, Derek Maxfield, Chief Visionary Officer, Melanie Huscroft, and Younique’s management team, in partnership with Coty.