ASOS has reportedly been considering takeovers of online beauty retailers Cult Beauty and Feelunique.
However, there are many potential bidders for the beauty retailers, which have been put up for sale by their current owners.
Sky News learnt that ASOS will be just one of the potential bidders.
Sky News reported that a formal bid from the London-listed group for either business remained an uncertain prospect, and that it was only expected to pursue one – if either – of the two targets.
With the beauty sector and online shopping growing in the pandemic, this would be a great opportunity for ASOS.
It would follow the company’s £330m purchase of the TopShop and TopMan brands from the administrators of Arcadia Group earlier this year.
This may be exactly what the brand needs to boost its sales and take full advantage of the beauty market, which is increasingly growing.
Other bidders could include THG Holdings, parent of The Hut Group, and German-based rival Zalando.
Bids are understood to be due for both businesses in the coming weeks.
As of right now, ASOS has not commented on their potential involvement in any acquisition.
