Hut Group’s Ingenuity signs £100m beauty brand deals

THG CEO Matthew Moulding

Manchester-based consumer brand and technology firm The Hut Group (THG) said on Monday its technology services division THG Ingenuity signed major partnership agreements with global beauty brands including Elemis, PZ Cussons Beauty, Burt’s Bees, Nuxe, By Terry and Revolution Beauty.

The agreements are collectively worth more than £100 million.  

The Hut Group (THG) said on June 10 its sales rose 24% to £1.14 billion and gross profit increased 22% to £511 million in the year to December 31, 2019. 

Privately-owned THG has institutional shareholders that include BlackRock, Old Mutual, Sofina, KKR and Balderton Capital.

The Hut Group CEO Matthew Moulding said: “The consumer shift to online continues at pace and a resilient, world class, DTC operation has become a necessity for brands to generate sustainable long-term growth.

“Through THG Ingenuity’s proprietary technology, brands can leverage our end-to-end capabilities to launch, market and fulfil their product offering at pace and accelerate their international expansion.  

“The latest partnership agreements with some of the leading international beauty brands are a testament to the strength of THG Ingenuity’s proven technology services.”