Dive Summary:
- Based on reports from Internet Retailer, Target Corp has announced it will acquire Dermstore LLC, a skin care and cosmetics online merchant. Sales for DermStore LLC topped $56 million in 2012.
- DermStore markets over 26,000 products and 750 brands. Although details of the acquisition were not immediately available, DermStore LLC will become an independent subsidiary of Target under the name DermStore.com
- “There is no doubt that the online beauty industry is growing rapidly, and this unique opportunity enables Target to gain insight into the superior online customer experience DermStore provides,” says Target SVP Casey Carl.
From the article:
Top 500 e-retailers selling in the health and beauty category had combined web sales in 2012 of roughly $274.9 billion, up slightly from $2.748 billion in 2011 and up 42.8% over the last decade from $192.4 billion in 2003, according to Internet Retailer estimates.
