The Hut Group is an ecommerce business that sells own-brand and third-party products covering health and beauty, fashion, accessories and sport across 160 websites in 35 languages. The business was founded in 2004 and originally focused on entertainment retailing before going on to create white-label websites for retailers such as Asda, Argos and WHSmith. Over the years it has acquired a diverse array of notable brands, including Zavvi, Coggles and Illamasqua. The Hut Group has also built up its B2B service offering into its all-encompassing Ingenuity platform, offering retailers everything from an ecommerce solution to digital content production. However, this remains a “side hustle” as founder and chief executive Matthew Moulding believes its technology business cannot support the levels of revenue and profit its retail operations can.
Online retailer THG has named a new chief financial officer as the previous postholder John Gallemore changes responsibilities.
As store shutters slammed down during lockdowns, some wrote off the likelihood of a bricks-and-mortar recovery. Now the same gloom has descended over pureplays. It was proven wrong then and it will be proved wrong now.
THG, the online group that owns a raft of health and beauty brands, has posted record annual sales of £2.25bn but warned on earnings.
THG has become one of the latest retailers to reportedly see a reduction in the level of cover provided to its suppliers by one of the UK’s largest credit insurers.
The performance of the wave of retail initial public offerings (IPOs) in the past couple of years has been the worst advert imaginable for the industry.
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