The Hut Group this week reported that sales had passed £1bn in its latest financial year.
The retail group, whose brands in the areas of beauty, nutrition, luxury and lifestyle range from Myprotein to Coggles, reported group sales of £1.1bn in the year to December 31. That’s 24% up on from sales of £916m in 2018. Earnings before tax, interest and asset write downs were up by 22% at £111m, from £91m a year earlier.
International sales now account for 66% of its total group sales, while 50% of sales are through own brands.
Now the group is to invest in beauty, nutrition, technology and infrastructure, with new €1bn financing to enable that.
Over the last year The Hut Group has continued to invest in its THG Ingenuity platform, now used by third-party retailers and brands, and in international fulfilment centres. It says a new £60m warehouse in Poland will give it a hedge against Brexit. The retail group now has 12 fulfilment centres around the world from which it says it offers 150 different final mile delivery options. It has also started work on the building of its new headquarters and bespoke digital content hub.
During the year the retailer acquired Christophe Robin as part of its beauty division, and after the year signed an agreement with Nestlé Health Sciences to launch brands into 20 markets round the world.
Matthew Moulding, founder and chief executive of The Hut Group, said: “It has been a year of significant progress across the group. We have continued to make huge investments to develop our infrastructure, technology, brands and people, which continue to deliver substantial growth, with Group Sales of £1.1bn in 2019.
“THG has continued to develop our end-to-end technology platform, THG Ingenuity, which powers both our own brands and a growing number of major global consumer groups. We have significantly expanded our global fulfilment capability, broadening our reach to customers in 169 countries. THG has also made important investments in our THG Experience portfolio, expanding the offering of our influencer platform, bringing over 5,000 influencers currently to both our own and our partner brands.