The founder and chief executive of Adore Beauty initially sold the stake for an undisclosed amountas an alternative to venture capital.
Different visions
"The whole point of it back then was to really try and take that next growth leap,because we had been boot-strapped the whole way and were very cash constrained,"Morris says."The idea was to bring on a bit of investment to do what we needed to do,and from that perspective it was a very successful relationship."
Morris says she had hoped there would be synergies from taking on a strategic investor.
"After a while we thought the goals and priorities were not as aligned as they would be at the start,"she says."We decided the interests of the company are best served by being independent again."
Morris is putting a positive spin on her"conscious uncoupling"from Woolworths.
"We didn't have any problems,"she says."Nobody was difficult. I really enjoyed working with everyone we were working with. We found the working relationship really positive."