Dermstore
Type of site
Online shopping
Founded1999 (1999)
Headquarters
El Segundo, California
,
United States
Area servedUnited States and Canada
OwnerTHG plc
Founder(s)Craig A. Kraffert
ProductsCosmetics
ParentTHG Beauty
URLdermstore.com
[1][2]

Dermstore is US web store which sells cosmetics and skin care products. In 2021, it was acquired by THG plc from Target Corporation for £260.9m and migrated onto the company's Ingenuity e-commerce platform.[1]

History

Dermstore was founded by dermatologist Craig Kraffert in 1999.[3] In 2008, Dermstore launched a subscription service called BeautyFIX. The monthly subscription service offered beauty boxes containing skin care, hair care and makeup products for a fee.[4] In 2012, the company expanded from distributing professional skin care to consumer cosmetics brands,[5] and on March 19, 2013, the company opened its flagship store in Hermosa Beach, California.[6]

On August 6, 2013, Target Corporation acquired the Dermstore Beauty Group.[7] Dermstore became a wholly owned subsidiary of Target which operated as a separate entity under its online name, Dermstore.com.[8] Dermstore's product offering consisted of over 350 brands[9]

In December 2020, THG plc announced it would buy Dermstore from Target Corporation for $350 million.[10] The deal closed on February 2, 2021 and Dermstore was migrated onto THG's Ingenuity e-commerce platform.[1]

References

  1. 1 2 3 "THG Annual Report 2021" (PDF). THG plc. 9 May 2022. Retrieved 25 September 2022.
  2. ↑ Craig Kraffert Bio
  3. ↑ Craig Kraffert Bio
  4. ↑ Deem, Megan. "Makeup Subscription Boxes". Harper's Bazaar. Retrieved August 30, 2019.
  5. ↑ "Dermstore.com Expands Into Beauty Space". happi.com. 2012-05-09. Retrieved 2015-07-15.
  6. ↑ "Dermstore Opens Flagship Store In Southern California". beautystorebusiness.com. Retrieved 2015-07-15.
  7. ↑ Target Press Release on Dermstore Acquisition
  8. ↑ Michael Carney (2015-08-07), Target buys Dermstore and Sensa is on the block. Intelligent Beauty focuses on JustFab's $1B potential, PandoDaily, retrieved 2015-07-15
  9. ↑ Target Press Release on Dermstore Acquisition
  10. ↑ "UK's Hut Group to buy online retailer Dermstore from Target for £249 million pounds". Reuters. Retrieved January 8, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.