There’s speculation that fast-expanding beauty giant The Hut Group (THG) is mulling a stock market flotation. A report at the weekend said that it has been lining up meetings with some big-name investors.
The Hut Group, the beauty giant that’s big and getting bigger at speed, said on Monday that its THG Ingenuity operation has signed £100 million worth of partnerships with global beauty brands and brand owners.
The company is using its global supply chain to airfreight 25 tonnes of medical-grade personal protective equipment at a cost of £2 million. This includes 150,000 face masks, 950,000 surgical gloves and 24,000 gowns.
The Hut Group has said people who have lost their jobs as a result of the coronavirus epidemic are particularly welcome to apply for new jobs at its manufacturing and distribution sites in the UK, US and Poland.
British online retailer The Hut Group (THG) said it raised 1 billion euros (857.37 million pounds) to help fund expansion, amid macro-economic and political changes arising from Brexit and the general election.
Britain’s Hut Group has grown remarkably fast over the past decade, and it hopes the launch of two new debt facilities will give it the further boost it needs to become the global leader in online beauty.