Asos reportedly interested in Cult Beauty and Feelunique takeover

Asos is reportedly one of the potential suitors for London-based online retailers Cult Beauty and Feelunique.

Beauty has become an important focus for Asos and is an area the company has previously indicated its interest in expanding, Sky News reports.

City sources have told Sky that Asos is yet to make a formal bid on either of the businesses and it’s expected the London-listed company would only pursue one.

It’s understood that both Cult Beauty and Feelunique are working with advisers on the sale to capitalise on the huge demand for online beauty products during Covid-19.

This news follows Asos’ latest earnings report that revealed sales for its beauty products increased by 114 percent.