Online retail group Huddled buys control of beauty surplus firm Boop.
London-listed Huddled, which owns Discount Dragon, said it had bought a 75% controlling stake in Boop Beauty.
Online retail firm Huddled has taken control of surplus beauty product seller Boop Beauty. London-listed Huddled, which owns Discount Dragon, said it has bought a 75% controlling stake in Boop.
It told shareholders on Monday morning it will pay an undisclosed “modest sum”, with a commitment to inject further capital for growth. Boop is an online, direct-to-consumer retailer which specialises in the sale of surplus beauty and cosmetic products.
“The Boop business concept is fantastic and sits perfectly with the Huddled circular economy strategy. It was clear that Huddled could provide Boop with some key ingredients- more stock, marketing and fulfilment – to drive growth.”
The business was founded by former L’Oreal in-house lawyer Yasmine Amr and delivered 558 orders in the second quarter of 2024 with limited capital at its disposal.
Boop Beauty’s online store has been taken offline to be integrated into Huddled Group, with a relaunch due in early September.
Martin Higginson, chief executive officer of Huddled, said: “We are thrilled to be working with Yasmine. The Boop business concept is fantastic and sits perfectly with the Huddled circular economy strategy.”
“Boop had set out to tackle this serious issue and a growing number of brands have already embraced the concept. The investment from Huddled will allow me to accelerate the vision I had for Boop.”
“It was clear that Huddled could provide Boop with some key ingredients- more stock, marketing and fulfilment – to drive growth.”
Ms Amr, founder of Boop, said: “Boop had set out to tackle this serious issue and a growing number of brands have already embraced the concept.
“The investment from Huddled will allow me to accelerate the vision I had for Boop – I’m excited to be working with the Huddled team to drive the business forward.”
Huddled shares were 1% higher in early trading on Monday.
