Huddled, a circular economy specialist, has purchased Boop Beauty, a distributor of surplus beauty and cosmetics founded by former L’Oreal lawyer Yasmine Amr. Huddled plans to pay a “modest sum” for a 75% share in Boop Beauty.
This acquisition is consistent with Huddled’s objective to increase its e-commerce presence while tackling the issue of surplus stock in the cosmetics business. The added working cash will allow Boop Beauty to expand its inventory and improve its client acquisition efforts, setting it for significant growth.
Huddled Group, the circular economy e-commerce company, has acquired a 75 percent controlling equity share in Boop Beauty Limited, an e-commerce company that sells surplus beauty and cosmetic products.
In a statement, Huddled, which owns Discount Dragon, said it will pay an undisclosed “modest sum” for the share, “roughly equivalent to the value of stock on hand,” while also committing to infuse further cash to accelerate growth.
Boop, created by former L’Oreal in-house lawyer Yasmine Amr, is an online, direct-to-consumer company that specializes in selling excess beauty and cosmetic products. Boop, dubbed ‘The Outnet’ for luxury beauty and wellness items, collaborates directly with beauty businesses to assist them sell remnant, surplus, and discontinued products.
It has been a reliable partner for well-known brands in this sector, such as Aromatherapy Associates, Foreo, and Legology. In the second quarter of 2024, it delivered 558 orders, with an average order value of approximately 39 pounds.
