THG, which filed for an IPO last summer, has been consistently growing its stable of beauty brands and retailers with other recent acquisitions including Dermstore and skincare brand Perricone MD.
LONDON — The Hut Group keeps growing its brand portfolio and has just added U.K.-based online beauty retailer Cult Beauty.
The appeal was Cult Beauty’s close-knit partnerships with independent beauty labels which are not currently available on its e-commerce platform. It stocks over 300 brands, including the likes of Drunk Elephant, Charlotte Tilbury, and Huda Beauty — two-thirds of which have no other presence on THG existing beauty sites.
The idea is to keep Cult Beauty’s separate branding and identity intact, and use the THG infrastructure to spearhead international expansion — as less than 50 percent of its sales are from overseas.There’s also an opportunity to offer Cult Beauty’s brand partners access to THG’s “beauty box subscription business, digital marketing services, and manufacturing know-how.”
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