The Manchester-based beauty e-tailer is working with investment bank GCA Altium to explore its exit options, Sky News reports.

Following a successful IPO for The Hut Group back in September, a stock market flotation is a likely outcome, but an outright sale could also be a possibility, sources told Sky.

Beauty Bay was founded in 2000 by brothers Arron and David Gabbie. Recently, the site has grown its customer base by leveraging social media and influencer marketing.

Today it sells desirable brands like Anastasia Beverly Hills, The Ordinary, Lilly Lashes and Jeffree Star Cosmetics, alongside original editorial content and beauty tutorials. It also has its own private label line, By Beauty Bay.

Beauty Bay’s sales soared more than 50 percent over the pandemic as shoppers shifted beauty spend online during lockdowns, netting £120 million on an annualised basis, according to Sky.