fashion

The Hut Group acquires skincare brand Perricone MD


Online retailer The Hut Group (THG) has acquired US skincare brand
Perricone MD for 60 million dollars.

Founded in 1997, Perricone MD is a topical skincare brand with
approximately 100 product patents. It will now join THG’s beauty portfolio
of own brands, including ESPA, Christophe Robin, Grow Gorgeous, Illamasqua,
Mio Skincare, Mama Mio, Eyeko and Ameliorate.

THG launched its own brand beauty acquisition strategy for the last four
years. Today, over 50 percent of revenue across its portfolio of seven
beauty brands is generated from direct-to-consumer sales globally
online.

“Perricone MD has a strong heritage, a loyal customer base and is a
truly exciting addition to THG’s beauty portfolio,” said THG CEO and
founder Matthew Moulding. “The online beauty and skincare sector is growing
rapidly, and this acquisition enables us to further strengthen our position
as the world’s leading pure-play speciality beauty brand owner and
retailer.”

Manchester-based THG has grown at an impressive rate in recent years
thanks to its digital strategy. In August, the company confirmed plans to
float on the London Stock Exchange with a target valuation of 4.5 billion
pounds.

Moulding commented at the time: “Our intention to float THG on the
London Stock Exchange reflects the achievements of the past but also our
strong belief in the significant potential for THG in the future.

“The brands we own today give us leading strategic positions in prestige
beauty and nutrition, powered by Ingenuity, our differentiated proprietary
direct-to-consumer e-commerce solution. Ingenuity powers not just our
brands but those of many other leading consumer brand owners around the
world creating a highly resilient, vertically integrated business with
significant growth opportunities.”

Photo credit: Perricone MD



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more