Mega retailer Target has set it eyes on a new bullseyeâ€”DermStore.com, a leading online source for the latest in skincare and cosmeceuticals. Last week, the stylish Minneapolis-based superstore announced it has entered into an agreement to purchase DermStore Beauty Group within 60 days.
So does that mean you will soon be seeing Targetâ€™s target on the DermStore website? Well, no. According to Target, DermStore will continue to operate as a separate entity and keep its name.
But if you read between the lines, the purchase most likely means that Target customers could be seeing new skincare brands on itâ€™s shelves. â€œNot only will DermStoreâ€™s 750-plus brands offer Target expanded breadth across the beauty and skincare industries, but also access to exceptional content and helpful resources we know consumers want,â€ stated Casey Carl, president of Meultichannel and senior vice president, Enterprise Strategy, Target.
Launched in 1999, DermStore has established itself as the go-to site for hard to find cosmeceutical brands like SkinMedica, SkinCeuticals, and Dermalogica, often available only at physician offices. Dan Obegi, the current CEO of DermStore, will continue to run the operation as president of the Target subsidiary.
Earlier in 2013, Target acquired CHEFâ€™s Catalog and Cooking.com, and as of yet, there are no signs of Targetâ€™s involvement on either of these website. Time will tell if the same will be true for DermStore.