Terms of the deal with the Munich, Germany-based beauty on-demand startup were not disclosed.
“Douglas is not merely acquiring a financial interest in Welmoa as a classic venture capitalist but also acts as a media-for-equity investor,” the perfumery chain said in a statement on Wednesday.
“We so firmly believe in the concept of being pampered with high-quality beauty services at the place of one’s choice that we are investing in it,” said Douglas group chief executive officer Tina Müller.
Welmoa, which was established in 2016, is operational in six German cities. It offers mobile beauty and wellness services wherever a person wants them, via a booking system online. Welmoa’s offer spans makeup, massage and nail care, plus hairstyling and hair removal.
Douglas customers can benefit from introductory offers. The perfumery chain will support Welmoa in various ways, including drawing attention to the beauty start-up in-store. Douglas is to serve as a consultant on Welmoa’s brand identity and strategy, as well.
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Douglas chief marketing officer Lucas van Eeaghen said that Douglas is always on the lookout for “exciting investment opportunities that are in line with our #FORWARDBEAUTY strategy” aimed at strengthening the company’s market position.
“In Germany, Welmoa is a pioneer and currently the premier company in the beauty at-home segment — a market that is already booming in America,” he continued.
“We see Douglas as a strategic investor, whose media power and marketing expertise offer us a unique opportunity to publicize our service to an even more targeted audience and receive assistance in our expansion process,” said Analena Gabloner, founder of Welmoa.
Douglas has about 2,400 stores in Europe and sells online in 24 European countries. In its fiscal year ending Sept. 30, 2018, the perfumery chain registered sales of 3.3 billion euros. It has about 40 million beauty cardholders.