Adore Beauty Group Limited has secured 100 percent distribution rights of beauty and wellness brand, iKOU.
iKOU Holdings Pty Ltd is set to be handed over to the Australian online retailer as a result of a $25 million all-cash deal. Adore Beauty expects to complete its acquisition of iKOU on July 31 2024.
The transaction includes three free-standing retail stores in NSW, a direct-to-consumer website, and wholesale distribution agreements with retail stockists and luxury spas (such as Park Hyatt Sydney, Langham Gold Coast and Lizard Island Resort).
In light of the deal, Professional Beauty understands it’s “business as usual” for iKOU’s network of salon and spa stockists, in addition to its other nationwide retail partnerships and free-standing stores. A spokesperson for Adore Beauty says iKOU “will continue working with the same wholesale team and spa advisors.”
In a post to Instagram over the weekend, iKOU co-founder Naomi Whitfeld shared:
“To say we’re proud of the inspiring brand we’ve created and the positive difference it has made in so many lives would be an understatement. The time has come for us to choose freedom and focus on our own health and happiness.”
iKOU is reportedly profitable and debt-free, and is forecast to generate FY24 revenue of $8.1 million and EBITDA of $2.0 million.
iKOU was founded in 2007 by Naomi and Paul Whitfeld. The brand has grown to more than 300 SKUs across skincare, bath and body, home fragrance, herbal tea, and spa lifestyle accessories.
For iKOU wholesale enquiries, visit this form.
Read the current issue of our digital magazine here:
- For more news and updates, subscribe to our weekly newsletter
- Follow us on Instagram
- Like us on Facebook
- Join Australia’s largest network of beauty industry professionals on LinkedIn
- Subscribe to our print magazine
Have an idea for a story or want to see a topic covered on our site and in our pages? Get in touch at info@professionalbeauty.com.au.