The Hut Group (THG) founder and chief executive Matthew Moulding is giving up his ‘golden share’ in the company in a bid to regain the confidence of investors after the online giant’s share price plunged in recent weeks. The group confirmed on Monday that Moulding is to cancel his special share rights, which gives him greater voting powers over...
18 Oct 2021
UK-based fintech venture Mode has launched its Open Banking-powered QR payments service and bitcoin rewards solution with The Hut Group’s tech platform. Mode’s integration into The Hut Group (THG) was originally scheduled for roll-out over 12 months starting from the end of Q3 2021, however, the fintech company stated that it has been “heavily...
12 Oct 2021
British fashion, beauty and wellbeing giant The Hut Group (THG) has acquired UK-based pure-play online beauty retailer Cult Beauty for 275 million pounds. THG said the move will be “highly complementary” to its existing portfolio, and added that Cult Beauty would retain “a very clear identity”. Founded in 2007 by Alexia Inge and Jessica Deluca,...
4 Aug 2021
SB Management, a subsidiary of Japanese investment giant SoftBank, has agreed to take a stake worth 2.33 billion dollars (1.6 billion pounds) in British online retailer The Hut Group (THG). The deal will see SB Management snap up a 19.9 percent stake in Ingenuity, THG’s yet-to-be-formed tech platform division. The stake values the subsidiary at...
11 May 2021
The Hut Group (THG) has posted a full-year loss despite a 41.5 percent jump in revenue. For the year ending December 31, the British group reported an operating loss of 481.8 million pounds, compared to a profit of 33.5 million pounds a year earlier. The company said this was driven by one-off, non-cash items including costs associated with its...
15 Apr 2021
British retailers Asos, Boohoo, Gymshark, The Hut Group (THG), Ocado Group and AO World have launched a new trade body to support and promote the country’s fast-growing digital-commerce sector. The newly-founded UK Digital Business Association (UKDBA) said it “will champion the sector” as it adapts to “ever-changing consumer needs”, while...
24 Feb 2021
The Hut Group (THG) has raised its full-year guidance for the third time since launching its IPO in September 2020 following a surge in Q4 revenues. The British online retailer, which owns brands MyBag, Coggles, and All Sole, saw revenues soar 51 percent to 558.7 million pounds in the three months ended 31 December 2020. The fast-growing...
12 Jan 2021
British online retailer The Hut Group (THG) is to acquire US skincare retailer Dermstore for 350 million US dollars from Target Corporation. THG has been one of the few retail success stories in 2020. The company increased revenue by 38.6 percent to 378.1 million pounds for the three months ended 30 September. Direct-to-consumer online revenue...
30 Dec 2020
British online retailer The Hut Group (THG) acquired 1.7 million new active customers in November - a 74 percent year-on-year increase - boosted by “very strong performances” during Singles Day, Black Friday and Cyber Week. The retailer, whose portfolio includes fashion brands MyBag, Coggles, and All Sole, said it attracted almost 900,000 new...
8 Dec 2020
British online retailer The Hut Group (THG) has announced the appointment of Damian Sanders as an independent non-executive director. He will join the board and take up the position of chair of the Remuneration Committee with immediate effect. Sanders was appointed special advisor to the board's Audit & Risk committee back in October - he will...
17 Nov 2020
British online retailer The Hut Group (THG) has increased its full-year outlook after reporting soaring sales for the third quarter of the year. In the three months ended 30 September, revenue at the Manchester-based company increased 38.6 percent to 378.1 million pounds compared with the previous year. Direct-to-consumer online revenue jumped...
27 Oct 2020
Online retailer The Hut Group (THG) has acquired US skincare brand Perricone MD for 60 million dollars. Founded in 1997, Perricone MD is a topical skincare brand with approximately 100 product patents. It will now join THG’s beauty portfolio of own brands, including ESPA, Christophe Robin, Grow Gorgeous, Illamasqua, Mio Skincare, Mama Mio, Eyeko...
30 Sep 2020
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