Have read this out loud to my 5-year-old daughter. It's quite long, so it took us almost a week in instalments, but she loved it, and always remembered what page we'd got up to.
The story is relocated to the Victorian period, with its use of costumes and hairstyles and even a little reference to photography. There are the most lovely and poignant illustrations on every page.
The prose has that Oscar Wilde richness, gives all the characters names (the sisters are called Hermione and Gertrude, and the father is Mr Fortune), and there is a very lavish description of Beauty's life in the palace, including a sewing room, a painting room, and a monkey room! - we both quite fancied moving in there ourselves!
Without being preachy or sentimental, the story also made its point about looking beneath the surface of a person.
I haven't seen this sort of fairy tale published in decades, in fact, I thought they went out of fashion after World War I. We've got the other four books in the series, and more please!