THG news and archive

THG Commerce launches new Hyrox global DTC ecommerce platform

THG Commerce, the end-to-end ecommerce platform from THG Ingenuity, has launched a new direct-to-consumer ecommerce platform for Hyrox, the fitness racing event. The website launch is part of a wider partnership between the two parties to drive long-term growth for Hyrox as it expands globally. Hyrox will benefit from extensive support across...

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Business

Despite 2024 struggles, THG CEO optimistic after Ingenuity demerger

THG has highlighted a transformative year marked by strategic progress, operational resilience, and balance sheet deleveraging in its preliminary results for the financial year ended December 31, 2024. The company also announced results for the first-quarter of fiscal 2025. Key headlines include FY 2024 pre-demerger revenue of 1.88 billion...

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THG rejects unsolicited bid for Myprotein

Beauty and tech conglomerate THG has said it has rejected a wholly unsolicited and “largely unfunded” acquisition proposal for Myprotein, a bodybuilding supplement brand. The offer, which was put forth by acquisition group Selkirk, amounted to between 400 and 600 million pounds and was to be paid via a combination of newly issued Selkirk shares,...

Retail

Myprotein’s clothing line launches in Decathlon stores in the UK

MP Activewear, the clothing line from sports nutrition brand Myprotein, part of e-commerce group THG Plc, is launching in Decathlon stores across the UK. The partnership marks the first clothing partnership between Myprotein and a major retailer and MP Activewear’s first move into physical retail, with the e-commerce group adding that further...

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THG welcomes Milyae Park as independent non-executive director

THG has appointed Milyae Park as an independent non-executive director with immediate effect. Park joins THG following a long and successful career in digital and ecommerce transformation at FTSE 100 and FTSE 250 companies including Tesco and Marks & Spencer. Commenting on the new appointment, Charles Allen, Lord Allen of Kensington CBE,...

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THG targets growth in beauty and nutrition post Ingenuity demerger

After completion of THG Ingenuity demerger, THG, a group comprising THG Beauty and THG Nutrition, reported revenue including Ingenuity of 1.9 billion pounds, up 1.1 percent for FY24. For the fourth quarter, THG revenue declined 2.6 percent to 552.4 million pounds. During the second half, the company continued to see improving underlying trends...

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THG shareholders agree to private Ingenuity spin off

Beauty and technology conglomerate THG has announced that the majority of its shareholders–amounting to 88.71 percent–have agreed to the demerging of its Ingenuity subsidiary. Plans for such a move emerged in THG’s latest H1 report, published back in September, in which it revealed an intention to make THG Ingenuity, the commerce-focused...

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THG to spin off Ingenuity into private company, reports continued growth in Q3

THG reported third quarter revenue of 433.1 million pounds, down 0.6 percent. The company however witnessed continued growth in THG Beauty and THG Ingenuity, with improving trends in THG Nutrition during the quarter. The company said in a statement that it is demerging Ingenuity into an independent private company at an equity valuation of up to...

Retail

THG’s Lookfantastic unveils first physical store

Formerly online-only beauty retailer Lookfantastic has opened its first-ever physical store in Altrincham, Greater Manchester, where it is to reimagine various existing initiatives in a real-life setting. The concept store leans in on the success of popular events and pop-ups, Lookfantastic said in a release, with a space that intends to educate...

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THG's H1 revenues grow, mulls demerger of Ingenuity

THG Group revenue of 911.1 million pounds, increased by 2.2 percent in the first six month period, with 6 percent growth in beauty and external Ingenuity helping offset online nutrition. The company’s UK revenues grew strongly by 9.9 percent. As a part of THG's stated strategy to maximise shareholder value, the group is actively undertaking...

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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...

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Retail|Beauty

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...