PARIS — The Hut Group’s beauty branch is to be separated from the group and launched on the London Stock Exchange in 2022.
In a filing with the exchange, Matthew Moulding, executive chairman and chief executive officer of the British beauty, wellness and tech company, said of the upcoming beauty branch’s listing: “We believe we will create further value for our shareholders.”
Also in the filing, THG wrote of the IPO plan: “This commitment reflects the continued strong organic growth of the division and its position as the industry’s digital strategic partner globally, its growing U.S. footprint, expanding global social media presence — [more than] 3 million Instagram followers — and vertically integrated model. A separate listing for THG Beauty will position the business very well to focus investment in its key growth areas, including own-brand portfolio expansion.”
THG said the decision about whether its nutrition branch will be listed separately, and if so, when, remains under consideration.
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THG, which owns a host of retailers, brands and manufacturers, and builds and operates websites for third parties, went public last September on the LSE. At the time, it became the U.K.’s largest tech IPO and biggest marketing listing in the prior five years.
THG’s beauty business has been burgeoning. In early August of this year, the company announced it was acquiring Cult Beauty, a hot luxury e-commerce property, for 275 million pounds.
In the recent past, THG also acquired skin care brand Perricone MD for $60 million, adding the U.S. label to a beauty stable that already included Espa, Lookfantastic.com, Christophe Robin, Illamasqua, Mama Mio, Eyko and Ameliorate.
In December 2020, THG snapped up the specialist skin care retailer Dermstore.com.
In the LSE filing, THG also released its interim report for the six months ended June 30. In the period, THG’s sales reached 958.8 million pounds, up 44.7 percent on-year and representing a 95 percent rise over two years on a constant-currency basis. In the first half of 2021, THG beauty’s revenues were up 59 percent, while its two-year growth was 145.8 percent in constant-currency terms.
THG allows partner brands to tap into its end-to-end, proprietary direct-to-consumer technology platform; its international fulfillment and payments infrastructure, and its hosting, translation, brand development and creative content services.
The group has developed e-commerce sites for brands including Elemis, Burt’s Bees, Nuxe, By Terry and St. Tropez.
Nestlé, Procter & Gamble, Walgreens Boots Alliance, Johnson & Johnson and Nintendo are among the clients that use THG tech and e-commerce solutions.
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