The Hut Group signs £100m worth of new beauty partnerships
The Hut Group’s technology arm has confirmed the signing of new partnerships with a number of beauty brands worth more than £100m.
THG Ingenuity said it had signed new deals with the likes of Elemis, PZ Cussons Beauty, Burt’s Bees and Revolution Beauty, and said the new tie-ups would help accelerate the brand’s transition to a direct-to-consumer model.
As part of the new deal, each brand will have access to The Hut Group’s international fulfilment and payments model.
This model of acquiring new brands has helped The Hut Group become a major player in the sector. In the year to December 31, 2019, the retailer reported gross profits of £511m and a 22% climb in EBITDA to £11m.
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