Private equity house Vendis Capital takes a majority stake in Skins Cosmetics.
Vendis Capital, a Belgian private equity investor specialized in the consumer sector, is making an investment in Skins Cosmetics, an omni-channel retailer and distributor of exclusive and luxury cosmetics, such as perfume, skin care and home and lifestyle products.
The chain is active in the Netherlands, Belgium and South Africa through a franchise formula. The company has 200 employees and a turnover of 40 million euros.
The participation in Skins Cosmetics is the ninth investment from Vendis Capital III, the 300 million euro fund that started in 2019. Marktlink supervised the transaction between Vendis Capital and Skins Cosmetics.
Vendis acquires the shares from five private investors. The chain wants to use the capital to expand faster with several new stores per year. In Belgium, the chain aims to open new branches in Brussels and Antwerp.
“We have had many successes with Skins Cosmetics, driven by growth of existing stores and successful new store openings,” says Philip Hillege, founder of Skins. “This ultra high-end segment of the market is growing rapidly and is underserved in the existing international retail environment. The number of niche brands we work with is unparalleled. We believe in the qualities that Vendis Capital will bring to the development of Skins, partly supported by their familiarity with the luxury consumer brand industry and their experience in successfully rolling out retail concepts.”
According to Marktlink partner Luc Keltjens, who guided the shareholders of Skins Cosmetics during this transaction, there was a lot of interest in the brand: “The combination of an experienced and complementary management and strong growth also leads to a competitive process with many interested parties. Vendis turned out to be the most suitable party as a partner for the management. Thanks to capital strength and extensive knowledge and experience, Vendis is a perfect match to support Skins Cosmetics in international expansion.”
How much Vendis paid for the majority interest has not been announced.
