£275M Sale of Cult Beauty
“Jessica DeLuca co-founded Cult Beauty and eventually sold it for millions,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “This episode takes you on the journey Jessica followed to successfully grow and eventually sell her business. Jessica discusses how she planned for the sale right from the beginning.”
Jessica DeLuca cofounded Cult Beauty in 2008, creating one of the UK’s leading online beauty retailers. In this episode of Built to Sell Radio, Jessica reveals the path that led her to selling the business for £275 million to The Hut Group (THG).
DeLuca’s background in tech shaped the business, with her love for data and precision leading to a meticulously curated platform. Frustrated by the lack of unbiased information in the beauty industry, she built a database of expert advice, allowing customers to search products tailored to their needs—an approach that set Cult Beauty apart from the competition.
In this episode, you’ll discover how to:
- Use niche expertise to build credibility and trust in a saturated market.
- Navigate early funding rounds and avoid common pitfalls.
- Structure a business for acquisition from the start.
- Keep competitive tension alive during the acquisition process to maximize valuation.
DeLuca’s journey offers invaluable insights into transforming frustration into a unique value proposition, building a niche brand, and securing a life-changing exit for her and her team.