Adore Beauty has bought back the 25 per cent stake it sold to Woolworths back in 2015 for an undisclosed sum.
Adore Beauty founder Kate Morris has reportedly made the decision to buy the remaining stake back from the supermarket so the business can pursue the next phase of its growth solo.
Morris has said that while the partnership boosted the business, the e-tailer will now focus on new strategies to grow its global customer base alone because the two companies' priorities no longer match up.
She told SmartCompany: “In terms of the additional opportunities and synergies we hoped would be there, probably in the end they didn’t eventuate to the extent that we had hoped… It’s just that when you’re working with another company of any size, you are a leaf on the wind a little… you’re not always in full control of where that company’s going."
Despite the fact that it has only been less than two years since the partnership began, Morris said that the decision to part ways doesn't mean the experience wasn't worth it. She also maintains that the relationship with Woolworths allowed her team to work with some incredibly experienced retail experts which will help them in the long run.
“I think it was very beneficial to be working with people with very corporate backgrounds, very business heavy backgrounds. When you’re talking to a business like that it’s a totally different ball game to a business that you’ve built out of our garage.”
Morris says that Adore Beauty will be dipping a toe into international markets going forward. As part of a partnership with Borderfree, the products are bid available for order in more that 200 countries.
