Neville Prior

The Hut Group Acquires

Neville Prior  21 August 2017 01:34:28 PM
Image:The Hut Group Acquires
The Hut Group has announced the acquisition of GLOSSYBOX from majority shareholders Rocket Internet and Kinnevik Online. GLOSSYBOX, founded in 2011 in Berlin, is Europe’s 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.

Strengthening Foundation Globally
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.”
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