It’s been a game-changing year for Adore Beauty.
Last September, Quadrant Private Equity bought a 60 per cent stake in Australia’s leading online beauty retailer.
The company specialises in investing in Australian and New Zealand companies and Adore Beauty was its third investment in a female-led company after Love to Dream, who create and distribute swaddles for infants, and Modibodi, the Aussie underwear and swimwear company specialising in protecting women from sweat, period and light bladder leaks.
In July, Adore Beauty prepped for a AUD$600 million share market float, working with leading investment banks Morgan Stanley, UBS and Shaw and Partners, one of Australia’s leading wealth management and investment firms.
The company has appointed a new CEO, Tennealle O’Shannessy, formerly the managing director of the Americas for Seek, the leading employment marketplace.
Kate Morris, the co-founder of Adore Beauty, transitioned to executive director in January 2018. The CEO position was filled by the other co-founder of the business, James Height.
Height and Morris will both be executive directors following O’Shannessy’s appointment and Morris will continue as the face of Adore Beauty.
In a statement, Justin Ryan, managing partner at Quadrant and chairman at Adore Beauty, said O’Shannessy adds further strength to the team and enhances its capability to deliver the company’s future growth potential.