This year marks Adore Beauty’s 15th birthday, but that’s not all the beauty e-tailer is raising a glass for - with news Woolworths Limited has taken a 25 per stake in the company.
The company’s founders will own the other 75 per cent, with Adore Beauty continuing to operate independently of Woolworths. Adore Beauty will also retain its own branding and identity.
“After 15 years of self-funding and tripling in size over the last three years, we’re now taking the next step in our incredible growth journey. This investment will strengthen and cement our position as Australia’s leading premium beauty e-tailer. I’m very excited about the possibilities it brings,” says Adore Beauty founder and CEO Kate Morris.
Woolworths is Australia’s largest domestic online retailer and boasts vast experience, significant marketing expertise, and substantial logistics resources.
“Adore Beauty now has access to the resources needed to grow to its full potential: the leading online retail destination for premium beauty. As a proudly Australian-owned business, I am particularly passionate about winning back Australian customers who may have previously been shopping offshore,” continues Morris.
Woolworths Marketplace general manager Emily Amos adds: “We are pleased to be able to support a growing and innovative Australian online retailer like Adore Beauty in a channel that is traditionally held by international players. We believe Adore will achieve its ambition of being the number one online premium beauty retailer in Australia.”
