Online beauty group The Hut Group have expanded their reign further with the acquisition of beauty subscription brand GLOSSYBOX,
Purchasing the brand from shareholders Rocket Internet and Kinnevik Online, the Hut Group adds to it’s portfolio of brands which includes lookfantastic, Skin Store, HQ Hair to name a few.
GLOSSYBOX follows theme of a few subscription boxes on the market at the moment, aiming to surprise you with some beauty goodies each month for a fixed fee. Presented pretty for a social sharers dream, each box offers a different selection of products, allowing it’s users to invest further into known cosmetic brands and discover some new territory perhaps unfamiliar.
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.”