We have advised Connection Capital and its investor clients on a £3.5m investment into Gorgeous Retail Group Ltd (GRG) to support the beauty retailer as it further shifts its focus to e-commerce.
GRG is an online retailer of premium cosmetics, haircare, skincare and other beauty products. The funding allows GRG to acquire direct competitor, Beautyflash, and so increase its market share and product offering. The recent trend towards online shopping in the cosmetics industry has been further accelerated by the impact of Covid-19 restrictions; GRG seeks to capitalise on this opportunity.
Supported by Connection Capital, GRG’s management team intend to embark on a “buy and build” strategy alongside organic growth to grow the business.
Lead partner Tom Rush commented: “With the backing of Connection Capital, Gorgeous Retail Group will be able to develop significantly over the next few years. I wish them every success for the future.”