MINNEAPOLIS — Target is acquiring online skin care site DermStore, the mass merchandise retailer said Tuesday.
Target said buying DermStore would allow it to expand its share of the online beauty market. The company will continue to operate under its online name, DermStore.com as a separate entity, but it will be a wholly owned subsidiary of Target. CEO Dan Obegi will be president of the subsidiary and will report to Target president of multichannel and SVP enterprise strategy Casey Carl. Financial terms of the deal were not disclosed.