The owner of multiple lifestyle brands including Zavvi and Coggles has added yet another beauty retailer to its portfolio, just a week after it bought out Glossybox
The Hut Group (THG), which already owns Lookfantastic and other haircare and skincare sites, announced yesterday that it had bought RY.com.au, a major Australian website.
The acquisition makes THG the number one online retailer for health and beauty products in Australia.
Founder and chief executive of THG Matthew Moulding said that the investment “marks another step towards our goal of being the number one in Health & Beauty globally.”
RY, which stands for “Recreate Yourself”, launched in 2005 and is now one of the biggest retailers of beauty products in Australia and New Zealand. It also has two bricks-and-mortar stores in Queensland, Australia.
The move is another step into the world of premium beauty product e-commerce for THG. Last week it emerged that the company had bought make-up subscription service Glossybox.
The private firm is estimated to be one of the most valuable in the UK, after a £125m investment from Old Mutual put the group’s worth at around £2.5bn.