The Hut Group on target for US$5.95 billion IPO

Initial public offering on London Stock Exchange set for September.

Bigger and better has become a fast-moving mission for The Hut Group (THG), the largest online seller of premium beauty products in Europe.

In June, UK-based THG reported global sales of AUD$2.08 billion across key brands, including Lookfantastic, RY.com.au, Australia’s largest haircare and skincare online store, ESPA, the prestige skincare brand and Eyeko, the eye makeup specialist.

Close to half – 46 per cent – of THG’s revenues come from its beauty division. The company also signed more than AUD$180 million in partnerships with major cosmetic brands such as Elemis, Burt’s Bees and Revolution Beauty in late June.

THG has announced plans for a US$5.95 billion IPO (initial public offering) on the London Stock Exchange in mid-September, the biggest registered on the major bourse this year.

The company has enjoyed accelerated growth since it was founded in 2004 and employs over 7000 people worldwide. THG intends to raise US$1.226 billion from the sale of shares and will free float 20 per cent of its issued share capital.

The brand we own today gives us leading strategic positions in prestige beauty and nutrition, says Matthew Moulding, founder and CEO of THG.

“Our intention to float THG on the London Stock Exchange reflects the achievement of the past but also our strong belief in the significant potential for THG in the future”.

According to Reuters media agency, THG has significantly benefited from the surge in online sales during pandemic lockdowns worldwide.

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