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 powerhouse The Hut Group is in talks with potential investors about a sale of shares that could value it at as much as £4bn.
The Hut Group’s technology arm has confirmed the signing of new partnerships with a number of beauty brands worth more than £100m.
The Hut Group profits have rocketed while total sales have surpassed £1bn driven by new brand acquisitions and investment in technology.
The Hut Group has bought two cargo planes with plans to launch an air freight service later this year to better facilitate its global distribution networks.
Online retail giant The Hut Group (THG) has established a £10m coronavirus aid package to support vulnerable communities, key workers and emergency services.
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