THG news and archive

THG prepares to cut more jobs across business

Beauty and tech group THG is preparing to make a series of additional job cuts across the business as part of an ongoing cost-saving review. A new report by the Financial Times suggested that around 171 jobs are at risk of being cut, bringing the total of its cut workforce to almost a third. Employees across six divisions of the LookFantastic...

Retail |Beauty Featured

THG extends next-day delivery deadline to tap into late-night shopping trend

Lookfantastic campaign image Credits: THG / Lookfantastic UK shoppers will be able to order from a host of leading beauty and nutrition brands, including Lookfantastic, Espa, Perricone MD, and Myprotein, until 1am, seven days a week, and still get their products the following day, or the same day for orders placed between midnight and 1am. The...

BusinessFeatured

THG sees strong H1 trading, partners with Frasers Group

THG Group has announced the company made further progress in the first six months of 2024 in line with previous revenue guidance, and the second quarter is expected to represent the third consecutive quarter of year-on-year revenue growth. The company said in a statement that the performance is underpinned by positive trading within the beauty,...

Business

THG delivers 4.5 percent Q1 sales increase

Overall THG Group achieved first quarter revenue growth of 4.5 percent to 455.4 million pounds. The company said in a release that THG Beauty delivered a growth of 11.1 percent to 267.6 million pounds following targeted changes to geographic strategy through 2023, focusing on more profitable customers and territories closest to the global...

BusinessFeatured

Q1 of 2024 marked by series of job cuts

The first quarter of the year has outlined the tough reality of the current market, with last year’s challenging financial period leaving many companies with no option but to initiate strategic reviews. And, as part of this process, inevitably the question of jobs comes into play, with roles, departments and geographies coming under the...

BusinessFeatured

THG manages to narrow FY23 losses, revenues drop

THG Group’s preliminary revenue declined 8.4 percent, while the group’s continuing revenue of 1,983.7 million pounds, declined 2.8 percent as the company prioritised profitable sales and territories reflected in the higher quality EBITDA. Fourth quarter revenue improved 1.1 percent. The company said in a statement that the UK was a key growth...

Business

THG Ingenuity chief steps down

Vivek Ganotra, the chief executive officer of THG Ingenuity, has stepped down from the role after just two years. Ganotra had first been appointed to the position at the technology firm back in June 2022, joining from Salesforce where he most recently served as SVP and chief customer officer, UK&I. A spokesperson for THG confirmed the news to...

Business

THG’s revolving credit facility extended to May 2026

THG has confirmed the extension of its revolving credit facility (RCF) by 17 months to May 2026. The company said in a release that the 170 million pounds facility remains undrawn since IPO, and there will be no changes to the financial covenants or interest margin beyond the existing maturity date. From December 2024, the facility will be 150...

PeopleFeatured

Ingenuity names first chairman to support growth

Ingenuity, the complete commerce business of THG plc, has appointed technology and payments entrepreneur Alistair Crane as its first chairman to support plans to accelerate growth in core markets, including the US. Crane, currently chief executive of digital career coaching business Bloom, joined THG on January 2 and has been appointed to...

Business

THG reportedly planning to cut 160 jobs

Beauty and technology firm THG is believed to be planning to axe 160 jobs across a number of its teams as it continues to embark on a turnaround strategy. According to a report by the Warrington Guardian, the group is looking to cut around 60 marketing and sales roles within its online and technology subsidiary, while consultations are already...

Business

THG Group's beauty business grows 2.6 percent in Q4

The THG Group's beauty business built on positive Q3 exit momentum, delivering fourth quarter revenue growth of 2.6 percent, while the company returned to overall revenue growth of 1.1 percent. The company said that it has signed a new partnership between its online platform Ingenuity and UK wellness retailer Holland & Barrett for its automated...

Business

THG stands by director Iain McDonald despite shareholder opposition

Digital retail firm THG has said that it would continue on with Iain McDonald as a director of the company, despite facing opposition from shareholders. In June 2023, a quarter of the company’s shareholders had voted against McDonald’s re-election, and despite the executive agreeing to step down from THG’s Remuneration Committee, the company is...