The Hut Group, or THG, is a leading e-commerce company and end-to-end tech platform for brands. The company was founded in 2004 and is headquartered at Manchester Airport, England. THG operates websites of more than hundred top global brands with special focus on segments such as beauty, nutrition, luxury and lifestyle.
For any brand that wants to unlock its full potential, THG can provide the necessary assistance. THG’s range of services for brands include everything from e-commerce solutions to fulfillment. THG can help brands reach their global audience at a speed and scale that would be impossible to achieve by brands on their own. The company has registered strong growth over the years and is currently operational in more than 160 countries.
Most startups have humble beginnings and THG was no exception. When it started operations in 2004, the company was primarily focused on selling CDs, DVDs, as well as other entertainment products online. In its present form, it is obvious that the company’s business model is now entirely different.
The founders decided to change the business model when they noticed that things like music and videos were readily available on streaming platforms. This was when a decision was made to acquire e-commerce companies and shift them to THG’s advanced tech platform. Since then, THG has been on an acquisition spree across the globe. It now has some of the most popular brands in its portfolio such as Glossybox, ESPA, Lookfantastic, and Myprotein.
THG is one of the well-funded companies in the world. It has received investments worth more than Euro 3.3 billion via sixteen rounds of funding. It is valued at more than Euro 6 billion. THG’s IPO in 2020 was one of the biggest in UK since 2015. The company raised a staggering £1.88 billion when it debuted on the stock market. Some of the top investors in THG include KKR, Balderton Capital, BlackRock, Sofina and Old Mutual Global Investors.
THG has acquired several companies, brands and websites since 2009. Its first acquisition was Zavvi, whcih was an online entertainment business. As its business model is built around acquisitions, we can expect more of such deals in the future.
THG competes with other e-commerce and tech platforms such as Nasty Gal, Reformation, Topshop, Missguided, Tobi, Zara, Everlane, Farfetch, New Look and ModCloth.
About the founders:
The Hut Group (THG) was founded by Matthew Moulding and John Gallemore. Matthew Moulding currently serves as the CEO at THG. His educational qualifications include industrial economics and chartered accountancy. Co-founder John Gallemore is the Chief Financial Officer at THG. He is a chartered accountant and had studied at University of Manchester. Prior to THG, he had worked with Deloitte and Caudwell Group.