The Hut Group has acquired Berlin-based Glossybox, a provider of beauty box subscription services. The sellers were Rocket Internet and Kinnevik Online. No financial terms were disclosed.
The Hut Group (“THG”, or the “Group”), one of the world’s largest online Health & Beauty retailers and brand owners, announces the acquisition of GLOSSYBOX, from majority shareholders Rocket Internet and Kinnevik Online.
GLOSSYBOX, founded in 2011 in Berlin, is Europe’s number one provider of beauty box subscription services. Operating in ten core markets, with offices in the UK, Germany, France, Sweden and the USA – its model is such that customers subscribe to a box of beauty products on either a rolling monthly or fixed term basis.
Berlin, home to a highly tech-savvy community, will see THG build on GLOSSYBOX’s presence – evolving it into a tech-hub for the Group; with plans to invest in talent and thus provide significant opportunities in the market.
The acquisition represents a strategic move for THG as it looks to extend further its international reach. THG has built the foundations and infrastructure in subscriptions to accommodate the scope of GLOSSYBOX, with its propriety e-commerce technology platform already underpinning the successful subscription models of its lookfantastic, Beauty Box, MyGeekBox and PopInABox brands. The Group looks forward to serving and growing GLOSSYBOX’s worldwide base of engaged beauty buyers.
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “This is another significant investment for The Hut Group. In GLOSSYBOX, we have acquired a great brand, with a solid and engaged customer base that, once powered through our platform and marketing infrastructure, should be capable of further significant growth.
“At THG we have a relentless focus on both Technology and Beauty. With our world-class proprietary ecommerce platform, we are confident we will continue to deliver strong growth and extend our global reach.”
Caren Genthner-Kappesz, CEO of GLOSSYBOX said: “I am very excited about this acquisition. 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.
“I am very proud of the team and everything that we have achieved to date with GLOSSYBOX. I am confident that, in The Hut Group, we have found the right strategic partner to drive our business forward. It’s a truly exciting time for the future of GLOSSYBOX.”
About The Hut Group
The Hut Group (THG) is a nimble giant with a start-up culture, led by founder Matthew Moulding. Built on a foundation of proprietary industry-leading technology, a world-class team and a scientific approach to building global brands. THG is fast becoming the world’s most influential online retail organisation.
In the year to 31 December 2016, THG grew Group Sales by 50% (to £501m), with International Sales growing by 89% (to £316m). EBITDA grew 67% to £50m. Over half of THG’s sales now come from own brand products.
Part of the Northern Powerhouse near Manchester, it operates over 140 highly profitable websites retailing premium, non-perishable FMCG products direct to consumers across the fast growing, global Health & Beauty markets.
Pioneering Technology Platform
THG is a major British technology success story. Its in-house team design, develop and build bespoke proprietary technology that is used by hundreds of millions of people worldwide across 190 + countries.
Its unique platform helps the Group dispatch 37 million items to customers across the world, taking THG to the top of the Sunday Times profit track for a second consecutive year.
The platform was recognised as E-tailer of the Year by Retail Week for “Becoming Europe’s fastest growing E-tailer, through leveraging proprietary technology, data and a disruptive model to deliver own brand products direct to global consumers.
The Hut Group is the #1 place for ambitious young talent that want to run a business or build industry leading technology.
GLOSSYBOX, founded in 2011 in Berlin, is Europe’s number one provider of beauty box subscription services. Since 2011, GLOSSYBOX has developed from a marketing distribution tool for beauty brands towards a holistic beauty advisor. With its strong brand, GLOSSYBOX has created an independent platform connecting beauty enthusiasts, brands and influencers. Today, GLOSSYBOX is the market leader in Europe and has subscribers in Germany, Austria, Switzerland, France, the UK, Ireland, Sweden, Norway, the USA and Canada and holds relationships to over 500 international beauty brands.