Coty acquires 60% of the social selling platform Younique for $600m
Younique is a social selling website that allows members of the public or ‘Younique Presenters’ to start selling the brand’s products. Younique has approximately 200,000 active sellers and 4.1 million customers in ten countries.
After the acquisition, Younique join Coty’s Consumer Beauty division as a separate business, leveraging the conglomerate’s R&D, innovation, manufacturing and supply chain resources. The remaining 40% of the business will continue to be owned by Younique’s Founders – CEO Derek Maxfield and Chief Visionary Officer Melanie Huscroft.
Maxfield and Huscroft will continue to lead Younique, along with the rest of the management, in partnership with Coty.