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Space NK has sold off its US division to distribution firm PCA Companies for an undisclosed sum.
The British beauty retailer has nearly 600 points of sale in the US, including distribution in Nordstrom and Bloomingdale’s, as well as a shop-in-shop partnership with Walmart, called Beauty SpaceNK.
In a statement, Space NK CEO Andy Lightfoot said the wholesale business had achieved its goal of providing brands the structure and support needed to achieve success in the US retail landscape. Piyush Golia, CEO of PCA Companies said PCA Companies was a “solution provider” that would help further grow the brands sold under Space NK.
PCA Companies will rename the business, but does not intend to alter its current brand or retail partnerships.
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In the US, Space NK sells premium and indie beauty brands, such as Kevyn Aucoin, Philip B and Christophe Robin.
In May, reports circulated that Manzanita Capital, the family office that has owned Space NK for more than 20 years, had hired the investment bank Raymond James to explore exit options for the retailer.
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Editor’s Note: This story was updated on Weds. 19 June to include commentary from Space NK and PCA Companies.
