Target is unloading its e-commerce subsidiary Dermstore.com to a fast-growing British retail company for $350 million.
U.K. e-commerce firm The Hut Group (THG) says the Dermstore acquisition will help it grab a share of the U.S. beauty market.
For Target, the divestiture may have something to do with its recent agreement with Ulta Beauty to open 100 Ulta outlets inside Target locations, as well as online shops on Target .com.
Source: Retail Leader