// Sephora agrees to buy online cosmetics retailer Feelunique
// Feelunique is working with advisers on sale processes
// Sephora currently has over 2600 stores across 35 countries
Feelunique has agreed on a deal to be bought by French cosmetics giant Sephora, which marks its first big entrance in the UK.
The new deal values Feelunique at £132 million and could be announced as early as this week.
Sephora currently has over 2600 stores across 35 countries, and sells products from the likes of Chanel, Dior and Fenty Beauty.
It was purchased by French luxury goods company LVMH in 1997.
Meanwhile, Feelunique was bought by private equity firm Palamon Capital for £26 million in 2012.
The online beauty retailer said earlier this year that it expected sales for the year to surpass £100 million.
In May, online fashion retailer Asos said it was considering a potential takeover of Feelunique.
Other online retail giants reportedly looking at making bids for Feelunique include The Hut Group and Zalando.
Feelunique is working with advisers on sale processes as it seeks to capitalise on growing demand from online customers during the Covid-19 pandemic.