JD Sports has acquired a stake – size unknown – in Hairburst a UK brand which markets hair products and vitamins. Hairburst was founded in 2014 and has since established a strong wholesale business as well as healthy DTC sales. It is understood that the JD investment will be used to target and acquire further beauty brands which target style conscious consumers. JD Sports has been enjoying record sales, achieving £3.88bn for the half-year to 31 July with a pre-tax profit of £364.6 million.
Co-founder of Hairburst, James (Jimmy) Hill said: “With our ability to create amazing products and market through social media, supplemented by JD’s consumer connection, financial power and global scale, we see great potential to build the Hairburst brand and acquire other brands within the sector.”
Peter Cowgill, JD executive chairman Added: “We are pleased to have made this initial acquisition in the beauty sector and have been impressed by the capabilities of the management team who have a strong identity and connection with millennials and Gen Z consumers.”
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