The Hut Group (THG), one of the world’s largest online Health & Beauty retailers and brand owners, has acquired Europe’s beauty box leader Glossybox, from majority shareholders Rocket Internet and Kinnevik Online.
Founded in 2011 in Berlin, Glossybox operates 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.
“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,” explains the Group in a release.
The acquisition represents a strategic move for THG as it looks to extend further its international reach, in particular through the conquest of new international markets for Glossybox.
“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,” said Matthew Moulding, Founder and Chief Executive Officer of The Hut Group.
