Tag: THG

The Hut Group wins International Growth Retailer of the Year at the Retail Week Awards 2017

The Hut Group took home the prestigious International Growth Retailer of the Year Award at the Retail Week Awards 2017, read more about the event in the article below, originally published on Retail Week written by Caroline Parry.

  • “The KPMG International Growth Retailer of the Year has made a success of its ambitious international expansion strategy in just three years. Few retail businesses can describe themselves as truly international, but The Hut Group’s strategy of developing a technology platform that can support rapid centralised roll-out alongside acquisitions has achieved exactly that.
  • The scale of the online health and beauty group’s ambition – to drive international revenues by investing time and resources in a fully in-house model, creating a scalable international technology platform – won the judges’ admiration.
    “This is a platform where The Hut Group can bolt on to the front end with minimal extra effort and cost. It is well invested, with a good and increasingly strong management team”. That The Hut Group achieved that in just three years also won their praise.
  • One of the retailers on the judging panel described The Hut Group as “properly ambitious and properly international”.
    The Hut Group’s portfolio comprises more than 100 websites over 25 health and beauty, wellness, fashion and lifestyle brands

Strong management

“This is a platform where The Hut Group can bolt on to the front end with minimal extra effort and cost. It is well invested, with a good and increasingly strong management team,” said one of the judges.

Despite being a relatively new international player (it had just seven international websites in 2013) international revenue accounted for more than 50% of the total for the first time in the last reported full year. The centralised international roll-out programme has provided operating leverage, and international retail visits rose 36% last year to 115 million.

Technology is at the core of its success and the retailer continued to invest in its platform last year. A team of more than 500 technology and data staff are dedicated to its continued development as an agile and responsive platform.
This investment has supported the group’s ambition to rapidly roll out international sites – 60 were launched during 2016, compared with 22 in 2015.

The flexibility of the platform and the use of shared elements such as the checkout, customer relationship management system and payment methods, means sites can be launched within two days.

The Hut Group’s US acquisition strategy has also been supported by the platform, which can also integrate new businesses.
It added Skinstore, a cosmetics site, and Idealshape, a weight management brand for women, in June and September 2016 respectively.

Expanding portfolio

The Hut Group’s total portfolio now comprises more than 100 websites over 25 health and beauty, wellness, fashion and lifestyle brands, including Myprotein, the world’s leading online sports nutrition brand, orders from which are shipped from the UK and US to more than 78 international destinations.

“It has been very neat tapping into the protein market and becoming the world’s biggest player with a deep-rooted knowledge of that category”. The Hut Group’s Lookfantastic is Europe’s top premium beauty retailer and has delivered impressive growth. Other brands in its stable include fashion specialist Coggles, male grooming website Mankind and entertainment retailer Zavvi.com

One of the judges said: “International has become a massive proportion of The Hut Group’s business in no time at all. It is still growing and I think it has a lot more scale. It has been very neat tapping into the protein market and becoming the world’s biggest player with a deep-rooted knowledge of that category.”

With strong competition in this category, the judges praised The Hut Group’s submission for demonstrating strong results and a compelling proposition with real long-term growth potential.”

Original source: Retail Week written by Caroline Parry

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