Target has announced
an agreement to acquire the DermStore Beauty Group. DermStore will become a wholly owned subsidiary of Target following the closing of the transaction. It will continue to operate as a separate entity under the name DermStore.com
. Internet Retailer says
DermStore carries 26,000 products and 750 brands.
Dan Obegi, current CEO of DermStore, said in a statement, "DermStore's success was built on understanding the beauty market and catering to a shopper who's seeking a wide array of prestige products, exceptional service and product expertise. Our customers have come to trust us to consistently deliver a quality experience and we are confident that this acquisition will benefit Target's guests and expand Target's online market share."
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