In an acceleration of Adore Beauty's private label strategy, notes Morgan Stanley, the company will acquire premium Australian beauty and wellness brand iKOU for -
The broker highlights potential for execution risk, given Adore's success has largely been in online retailing, as opposed to owning brands and store retailing.
Positives include management's expectation for FY24 revenue of
Equal-weight. Target
Sector: No Sector.
Target price is
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