The Hut Group is number 1 retailer in Australia
Finding the right partnership
The acquisition, which comes after the procurement of leading beauty platform, Glossybox, earlier this month, marks a period of strategic growth for health and beauty brand owners, The Hut Group (THG).
“We had been approached many times but always wanted to exit the business knowing that whoever was taking over had the same ambition as us to become the number one,” James Patten, Founder, RY said to Australian news outlet Power Retail.
“We are delighted at the acquisition of RY.com.au, a leading player in the growing Australian hair care and beauty market and a business that complements our existing beauty websites such as LookFantastic and SkinCareStore,” added Matthew Moulding, Founder and CEO of THG.
Making a name in Europe and Australia
The leading platform, which has resonated particularly strongly with Australian cosmetics shoppers, was acknowledged as E-tailer of the Year by Retail Week for “Becoming Europe’s fastest growing E-tailer", and will now continue this growth throughout the globe.
“At THG we have a relentless focus on both technology and beauty. With our world-class proprietary e-commerce platform, we are confident we will continue to deliver strong growth and extend our global reach,” Moulding added.
Glossybox: A second strategic deal
The British e-commerce company purchased Glossybox — an independent platform, beauty box subscription service provider and marketing distribution tool developer — from its majority shareholders, Rocket Internet and Kinnevik Online.
Through its proprietary e-commerce technology platform and subscriptions, THG aims to build upon its existing relationships with lookfantastic, Beauty Box, MyGeekBox and PopInABox.
At the time of the Glossybox acquisition, Caren Genthner-Kappesz, CEO of Glossybox, stated: “It was extremely important to us to find the right buyer for our brand; one that complements us and can use its retail know-how and technological capabilities to accelerate and strengthen Glossybox further in its journey of being a global industry-leading brand and a well-trusted beauty advisor for our engaged subscribers.”
THG increased its group sales by 50% to £501 mn (€538.9) in the year to 31st December 2016, with international sales growing by 89% to £316 mn (€339.9).