The make-up millionaires
Tuesday 11th December 2012, 4:50PM GMT.
TWO Islanders will toast their success this Christmas after making millions from a dream investment of just £35,000 each to launch an online beauty business.
After just seven years their company, feelunique, which now employs 120 Islanders, has been valued at £26 million.
Chief executive Aaron Chatterley, chief operating officer Richard Schiessl and other local investors are to receive windfalls after selling a majority stake to two private-equity groups.
The exact stake bought by the groups has not been revealed. However, as they have acquired more than 50 per cent, it is likely that the local investors will have received at least £13 million between them.
And the business, which trades both globally online and has physical outlets in the Island, is set to grow further. The new investors, Palamon Capital Partners and Sirius Equity, are putting in another £10 million to increase its already significant share of the beauty products market.
Full story in Tuesday’s JEP