THG and Frasers have today announced a multi-year partnership on the health and beauty giant’s Ingenuity platform.
In the announcement to the City this morning, THG said it would provide Frasers with courier management services and replatform Frasers’ Australian fulfilment and logistics operations on its Ingenuity platform.
In return, Frasers’ credit and loyalty platform Frasers Plus will now be integrated into Ingenuity’s checkout and will also be made available to THG’s beauty and nutrition customers.
The two brands will also collaborate in store, with a range of Myprotein products set to be launched across Sports Direct stores.
THG has also sold its “portfolio of luxury goods websites” to Frasers, with Ingenuity continuing to support these brands.
Ahead of its annual general meeting later today, THG said it had made further progress in the first half of 2024 in line with previous guidance and that the second quarter will represent its third consecutive quarter of revenue growth.
The group said its performance was “underpinned by positive trading within the Beauty, external Ingenuity and offline Nutrition businesses”, which have offset continuing headwinds in Asia.
Despite this, full-year guidance remains unchanged.
THG highlighted that revenues for THG Ingenuity were up 30% in the second quarter and that THG Beauty customer engagement grew in the second quarter, with app downloads increasing by 45% year on year.
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