The Hut Group has completed the purchase of a building that formerly housed a Jamie’s Italian restaurant in Manchester, marking its first move into bricks-and-mortar retail.
The online beauty and wellbeing retailer completed the purchased of the 12,000 sq ft space at 100 King Street in the city centre, which it said it plans to turn into a ’World of THG’ – a “contemporary retail and experiential marketing space” showcasing brands from across the groups range.
The previously pureplay retailer has increasingly been looking to invest in physical space, having first bought and redeveloped the Hale Country Club & Space in 2016. In May this year, the etail group snapped up boutique hotel group Eclectic Hotels and recently broke ground on a logistics centre near Manchester Airport.
Chief executive and founder of Matthew Moulding said: “THG is continuously looking at original ways to deliver the most engaging retail and wellbeing experience. The acquisition of the iconic 100 King Street site further expands our innovative marketing infrastructure.
“The development programme to create the World of THG will provide a new and innovative environment for customers and influencers to discover and fully experience our prestigious brands.
“In addition, while continuing to expand our international presence, as a Manchester-born business we’re committed to the North West and growing our employment base in the region.”
The Hut Group reported a record-breaking 12 months last year. Gross profit increased by 51% to £318m in the year ending 31 December, 2017.
1 Reader's comment