E-commerce firm The Hut Group acquires popular beauty box brand GlossyBox
The Hut Group (THG) have acquired Europe's leading provider of beauty box subscription services GlossyBox.
Founded in 2011 in Berlin, Glossybox now operates across ten core markets, with offices in the UK, german, France, Sweden and the USA.
THG intend to build on Glossybox's presence in Germany, and its global footprint, with plans to turn the Berlin HQ into a tech hub for the entire group and significant investment in talent.
"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,"
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said.
"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."
THG maintains that its propriety e-commerce technology platform will be able to accommodate the scope of Glossbox.
The platform already underpins the subscription models of lookfantastic, Beauty Box, MyGeekBox and PopInABox.
Caren Genthner-Kappesz, CEO of Glossybox said she is "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."