THG shares rise amid Maximo partnership

Shares of Manchester-based consumer brands giant THG plc rose as much as 8% as it announced a new partnership with beauty e-commerce retailer Maximo Group, home to destination sites including and

THG said the 10-year partnership will initially focus on re-platforming All Beauty and Fragrance Direct to THG’s Ingenuity platform, as part of Maximo’s strategic growth plans.

THG Ingenuity will also become Maximo’s key UK operational partner, providing warehouse and fulfilment services from Q2 2023.

“The end-to-end technology and fulfilment services agreement encompasses: website services including design, build, hosting and maintenance; warehousing and fulfilment services; and end customer delivery services via THG’s network of global couriers,” said THG.

The partnership between THG Ingenuity and Maximo Group is expected to add in excess of £150 million GMV to the Ingenuity platform annually, with the ambition to re-platform the site by the end of Q2 2023.”

THG CEI Matthew Moulding said: “We are proud to announce our partnership with Maximo. This represents the early fruits of our focus on larger enterprise customers and underlines our position as the online partner of choice for the prestige beauty industry.

“I am delighted with the progress of our refocused sales team, with our pipeline continuing to build momentum. Our unique end to end global multichannel solution means our addressable market across beauty, FMCG and retail is significant and will continue to expand as a result of our continuous programme of innovation.”

THG Ingenuity CEO Vivek Ganotra said: “We are delighted to develop further our reputation as the go to e-commerce partner for digital transformation in the beauty and wellness categories.

“Expansion into new international markets is a strategic priority for Maximo Group, with our global distribution network and cross-border expertise enabling its brands to capitalise on the growing digital channel shift across many beauty categories.”

Ian Smith of Maximo Group said: “Aligning our digital strategy with THG Ingenuity’s technology and operational capabilities will enable our customers to benefit from an enhanced shopping experience, from browsing on site, through checkout to delivery.

“As a brand owner, THG understood our ambitions from the outset, with Ingenuity’s track record of re-platforming large beauty brands making them a natural strategic partner.

“We have been deeply impressed with the speed at which Ingenuity have delivered and their commitment to a true partnership from outset.”