04.18.22
Cult Beauty Co-Founder Alexia Inge is leaving the company eight months after it was acquired by THG. That deal was valued at 275 million pounds ($417.5 million at current exchange rates). Cult Beauty stocks more than 300 brands, including Drunk Elephant, Charlotte Tilbury and Huda Beauty — most of which had no other presence on THG beauty sites at the time of the acquisition.
Inge co-founded Cult Beauty 14 years ago with Jessica Moore. Inge said she plans to spend more time with her family before announcing her next venture.
Nearly a year ago, Cult Beauty struck the deal with THG. The deal was completed in August on a cash and debt-free basis from private shareholders, including Inge and majority investor Mark Quinn-Newall, who also cofounded Net-a-porter. During the past year, THG has suffered numerous setbacks. Chief among them, cofounder Matthew Moulding’s oversight of the company, the exact value and function of the various businesses under the THG umbrella and corporate governance.
Inge co-founded Cult Beauty 14 years ago with Jessica Moore. Inge said she plans to spend more time with her family before announcing her next venture.
Nearly a year ago, Cult Beauty struck the deal with THG. The deal was completed in August on a cash and debt-free basis from private shareholders, including Inge and majority investor Mark Quinn-Newall, who also cofounded Net-a-porter. During the past year, THG has suffered numerous setbacks. Chief among them, cofounder Matthew Moulding’s oversight of the company, the exact value and function of the various businesses under the THG umbrella and corporate governance.