Next acquires Fabled by Marie Claire from Ocado
Next has bought the Fabled by Marie Claire beauty business from Ocado.
Marie Claire Beauty operates the Fabled.com website and a Fabled by Marie Claire store in central London. Launched in 2016, Fabled offers over 250 brands.
Next has acquired the business with a small upfront payment and will pay a minimum of £3 million as part of an earn-out agreement.
Tim Steiner, chief executive of Ocado, said its recent joint venture with M&S meant the “centre of gravity” at Ocado has shifted.
He added: “Given the success of the collaboration between Next and Fabled, we decided that it would be in the best interests of all parties to now pass the baton so that Next can take Fabled forward.”
Next now sells over 100 beauty brands on its website through Fabled. These include the likes of Estee Lauder, Clinique, Benefit, Smashbox, The Ordinary and GHD.
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