Coty has entered into a partnership with leading online peer-to-peer social selling platform Younique.

Under the proposed agreement, Coty will acquire 60% of Younique, while founders Derek Maxfield and Melanie Huscroft will retain the remaining 40%.

The partnership will combine Younique’s high growth business model with Coty’s beauty product R&D and innovation know-how, as well as its extensive manufacturing and supply chain capabilities.

Younique’s innovative make-up and skincare products are sold through its disruptive peer-to peer e-commerce platform, which enables Younique’s community of independent presenters to leverage social media in marketing and distributing the products directly to consumers.

Camillo Pane, Coty’s Chief Executive Officer, says: “Derek and Melanie are tremendous entrepreneurs who have built one of the most engaging and fastest growing e-commerce companies in beauty. Alongside the rest of Younique’s team and in partnership with their presenters, they have been able to impact the lives of millions of consumers across a number of countries with a mission to uplift and empower women. We look forward to working with them to continue supporting this mission and building Younique into a leading global e-commerce beauty company.”