The Hut Group acquires Glossybox
The Hut Group has acquired beauty box subscription service Glossybox from majority shareholders Rocket Internet and Kinnevik Online.
Founded in 2011 in Berlin, Glossybox operates in ten core markets from offices in the UK, Germany, France, Sweden and the USA. Through its subscription service, customers receive a box of beauty products on either a rolling monthly or fixed term basis.
Matthew Moulding, founder and chief executive 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.”
The Hut Group is planning to build on Glossybox’s presence in Berlin where the office will evolve into a tech hub for the group.
The acquisition represents a strategic move for The Hut Group as it looks to extend its international reach. The group said it has built the foundations and infrastructure in subscriptions to accommodate the scope of Glossybox as its propriety ecommerce technology platform already underpins the subscription models of its Lookfantastic, Beauty Box, MyGeekBox and PopInABox brands.
Moulding added: “At The Hut Group 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, chief executive of Glossybox, said: “I am confident that, in The Hut Group, we have found the right strategic partner to drive our business forward.”
