Retail News Breaks
Drugstore.com closes SkinStore.com acquisition
February 22nd, 2010
BELLEVUE, Wash. – Drugstore.com has completed its agreement to acquire Salu Inc., owner and operator of SkinStore.com.
The company said Monday that the $36 million deal, a stock and cash transaction announced in late December, creates one of the largest online beauty retailers, offering consumers a broad product selection that includes mass beauty products on drugstore.com, prestige beauty brands on beauty.com and clinical skin care products on SkinStore.com.
Under the agreement, Salu will continue to focus on its brands and high level of customer experience and continue to operate in Sacramento, Calif., as a subsidiary of drugstore.com.
SkinStore.com carries more than 200 premium brands of skin care and beauty products typically found only in luxury spas, fine stores and dermatologist offices, and it has an aesthetician-staffed call center available to answer customer questions, according to drugstore.com.
The acquisition expands drugstore.com's portfolio of online stores and continues its strategy of building Internet shopping destinations. In October, the retailer launched a dedicated site for for sexual wellness products called SexualWellBeing.com, adding to its VisionDirect.com and beauty.com web stores. And early this month, drugstore.com went live with AtHisBest.com, an online store for men's health and grooming products.
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