Faegre Drinker is representing Target Corporation in the $350 million disposition of its subsidiary, Dermstore LLC, an online retailer of skincare and beauty products. The transaction is expected to close in early 2021.
The disposition comes on the heels of Target Corporation announcing a strategic, long-term partnership with Ulta Beauty to create a “shop-in-shop” concept that will offer established and emerging prestige beauty brands online and in select Target locations nationwide beginning in 2021.
Faegre Drinker also represented Target Corporation when it acquired Dermstore LLC for $100 million in 2013.
