Tag: The Hut Group

The Hut Group is ‘Tech Track’ hit 4th year in a row

The Hut Group have ranked number 4 in the ‘Sunday Times Tech Track 100 of the UK’s fastest growing companies’ with growth of 162% from sales of £53.60m in 2009/10 versus £2.98m in 2006/07.

Topping the league table at number 1 last year, The Hut Group have appeared in the table every year in the past four years and have featured in the top ten in the past three, despite being less than 6 years old.

Founded in 2004 and based in Northwich Cheshire, The Hut Group is an online retailing platform focused on fast moving consumer goods including Entertainment (Games, DVDs, CDs, Books), Electricals, Gadgets, Health & Beauty, Footwear, Gifts, Accessories, Toys and Sports.

The Hut Group retails online through its own sites including TheHut.com, Zavvi.com, IWantOneOfThose.com, Gifted.com, MyBag.co.uk and Washbag.com.

In April 2010, The Hut Group raised £14m from a consortium of investors, including:

Balderton Capital, Artemis, William Currie Group and Angus Munro, the former chief executive of Matalan.

M&A Director, Steve Whitehead said, “The business remains focussed on delivering growth through a combination of organic new site launches such as MyBag.co.uk and Washbag.com plus through selective acquisitions. This growth strategy is evidenced within Gifting, where the Hut is now the UK’s largest operator across our existing site, Gifted.com and IWantOneOfThose.com, which we acquired in August.”

The Hut Group now employs over 200 members of staff and recently announced an apprentice NVQ scheme, which will bring 100-150 talented youngsters from the local area into the business for the year long vocational courses in Buying, Marketing, Design, Finance and more with the aim of nurturing the best talent at grass roots level in the North West.

The Hut Group Fastest Growing Company 2009

E-commerce provider, The Hut Group, has ranked Number 1 in this year’s ‘Sunday Times Tech Track 100’. Appearing for the third consecutive year, The Hut Group has seen sales grow 189 percent a year from £997,000 in 2005 to £24m in 2008.

The list ranks the fastest-growing private technology companies in Britain by sales growth over a three-year period. Rising from eighth position in 2008, The Hut Group runs its own stores, TheHut.com, a broad marketplace, which offers a range of lifestyle products such as clothing, beauty, entertainment and electronics. It also acquired high street brand, Zavvi.co.uk in March this year and transformed it into a thriving leisure and entertainment focused online-only retailer.

Matthew Moulding, CEO at The Hut Group (THG), comments, “To be ranked 1 is an incredible achievement. Given the tough economic climate, the huge growth and subsequent listing in the Tech Track is especially rewarding and we’re thrilled we have been able to buck the downward trend.

“The company has grown rapidly and thanks to the demand for competitively priced entertainment products and our new product categories. There is a real opportunity for us to drive the business forward; we’ll continue to improve the overall offer and experience to our customers which is our overall goal, this will deliver increased in market share in all the areas we operate in. The recent raft of management appointments within the senior team means we are well on the way to deliver our ambitious target of £90m turnover in 2009 and driving the business to the next stage in its exciting journey,” continues Moulding.

In the coming months, the group will continue to expand the range of products available, offering customers increased choice and functionality, while delivering the best price and value; making them the best choice for consumers during peak Christmas trading in 2009.

About The Hut Group

Based in Northwich, Cheshire, The Hut Group (THG) was established in 2004 by entrepreneurs, Matthew Moulding and John Gallemore.

The Hut Group has two successful retail brands within its portfolio. TheHut.com is a multi-channel retailer offering a variety of home entertainment and lifestyle products, such as DVDs, Blu-ray and CDs, as well as lingerie, cosmetics and sports and leisure equipment.

High street brand Zavvi was acquired by The Hut Group in March 2009 and is now a thriving online-only retailer. The refreshed Zavvi.com website offers customers a wider choice of entertainment products, with free delivery.

A Sunday Times Tech Track company, The Hut Group is the fastest growing technology company and is ranked 1 in the UK.

For further information, please visit TheHut.com, Zavvi.com or THG.com.

Follow us on Twitter: @thehut_com and @zavvionline