Private equity merchant banking firm Crescent Financial Partners has purchased a 30 per cent stake in online retailer BeautyTicket.com.
Recently named InStyle’s “Best of the Web 2010,” and Women’s Wear Daily’s “Top Beauty e-Tailer,” BeautyTicket.com offers premium beauty brands at up to 85 per cent off recommended prices. Fuelled by a weak economy and the popularity of online discount retailers, Crescent believes the company is positioned to become a leader in the online beauty space over the next twelve months as consumers continue to look for deals and buying decisions are influenced by the people behind the brand.
“We believe this company has the ability to rapidly increase market share and become the No1 destination for consumers who want to purchase premium beauty products at a price that fits today’s economic climate,” says Crescent MD, Russell Armstrong. “Our goal is to impart business development expertise that will lead to exponential growth, while providing the necessary capital to build out a solid infrastructure.”
