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21 Jan

Westman Atelier Denies Potential Sale Rumors – WWD

Westman Atelier could also be beauty’s next mergers and acquisitions goal, industry sources told WWD.

Speculation swirled last week that the corporate is being courted by major strategic buyers, however the brand’s cofounder David Neville said, “Nothing is going on without delay — there is no such thing as a process.”

Industry sources had told WWD that talks between the clean makeup brand and potential suitors were heating up at the tip of 2022, adding that a sale was on the best way.

Others acknowledged that while a sale is perhaps premature — Westman Atelier only launched in 2018 — the brand filled gaps in conglomerates’ portfolios with its luxury positioning.

“For brands which might be clean and independent, [Westman Atelier] might be the most effective one on the market,” one source told WWD, who said potential buyers were being quietly approached. “It’s precisely the kind of brand corporations must be buying.”

Other sources said, nevertheless, that this shopping around was only in response to inbound inquiries from large strategic players.

The five-year-old makeup brand was founded by Gucci Westman and Neville in 2018 following lengthy respective careers in beauty and fashion. Westman is a veteran celebrity makeup artist; Neville cofounded Rag & Bone.

The brand received an infusion of capital from Prelude Growth Partners in 2019. The fund didn’t comment on the speculation.

One source denied the claims, saying that Neville and Westman weren’t exploring sale options and were homing in on growing the business within the yr ahead.

The brand’s distribution spans its own website and specialty retailer, including a partnership with Sephora, which kicked off in 2021. At the moment sources expected the brand to succeed in $40 million in retail sales for that yr.

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