Inge, Cult Beauty’s cofounder and co-CEO, said she’s excited to “watch the next chapter” of Cult from the sidelines.
Cult Beauty was a pioneer in the online beauty space, stocking niche brands and categories; showcasing brands with editorial flair, and steering well clear of discounting. The site spoke directly to the beauty-obsessed; reported regularly on seasonal and consumer trends, and remained sensitive and responsive to the needs of its audience.
Inge’s departure coincides with a difficult period for THG, which suffered an annus horribilis in 2021, due to a variety of factors. They included cofounderoversight of the company, the exact value and function of the various businesses under the THG umbrella and corporate governance.The company’s share price has fallen nearly 86 percent over the past year, with the shares worth 0.94 pounds.
Inge, who cofounded the company 14 years ago, said she was proud of transforming Cult Beauty into “the most trusted and loved beauty retailer in the world. I feel that we have not only surpassed [our] dreams, but also founded a significant community along the way, all on a total investment of 1.75 million pounds.”
She thanked the “superstars who have worked alongside me to build Cult Beauty into the special business it is today. I would like to thank our brands, all of whom quite literally represent the best in the industry. Thank you to our incredible community of customers from around the world for continuing to be our greatest supporters and source of inspiration.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How To Quit Your Job At 49 And Make A $6 Billion FortuneA decade ago, when she was 49, Nayar left behind her investment banking career to launch beauty-and-fashion retailer Nykaa.
Read more »
How To Quit Your Job At 49 And Make A $6 Billion FortuneIndia's richest self-made woman - Falguni Nayar, who founded Mumbai-based beauty and fashion retailer Nykaa - has advice for women entrepreneurs: 'Let the spotlight of your life be on you.'
Read more »
Nicola Peltz Shares Her Beauty Routine - E! OnlineFrom taking skin care inspiration from her mom to using products from Victoria Beckham's beauty line to sharing products with husband Brooklyn Beckham, Nicola Peltz shares her beauty routine.
Read more »
Why Black Beauty Supply Stores Will Forever Be Sacred SpacesWriter Bee Quammie reflects on how her childhood visits to a beauty-supply store helped inform her present-day definitions of Black beauty.
Read more »
Elon Musk endeavors to buy Twitter but will reconsider position if rejectedApparently, Elon Musk is not satisfied with being the largest shareholder in Twitter. Now, he wants to buy it.
Read more »