The Hut Group Acquires Dermstore

by | Jan 4, 2021

The Hut Group is buying, an online skincare retailer, from the US retail chain Target for £259m.

The Hut Group is a Manchester-based online retailer, who own Illamasqua, Eyeko and Ameliorate, amongst others.


The acquisition of Dermstore will mean that 20% of The Hut Group’s sales will come from the US, compared with 13% before the Dermstore takeover.


“This is by far the biggest deal we’ve ever done at THG, reinvesting monies raised from our listing on the London Stock Exchange just over three months ago.” – Matthew Moulding, Founder, Chief Executive and Chairman of The Hut Group


The Times explain that: “The Hut Group’s shares rose by 62½p, or 9 per cent, to £7.62½, valuing Hut at £7.38 billion, above the £7.25 billion threshold that has triggered a £1 billion share windfall for Mr Moulding. Staff at the group also shared a £250 million pot when the £7.25 billion valuation target was reached a few weeks ago, although they are subject to a lock-up until March. Mr Moulding had given shares in the company to 74 staff over the past decade, turning secretaries, warehouse operatives and middle managers into millionaires when the company listed”.


Latest posts:

How to trade in China, according to beauty trading experts

How to trade in China, according to beauty trading experts

UK success stories in the Chinese market feel novel. Take British brand's Vitabiotics expansion which has seen 30-40% year on year growth in the market since 2015, or, Argentum Apothecary's launch into China Duty Free just a year after making the jump. BeautyMatter is...

How much filler did Alice Hart-Davis’ MRI reveal?

How much filler did Alice Hart-Davis’ MRI reveal?

Originally published by Alice Hart-Davis, founder of The Tweakments Guide and member of the Council's Policy Committee, this article explores how long dermal fillers really last in the face. Alice says herself: 'Just how long can temporary dermal fillers last in the...


Stay on top of what's happening across the British beauty industry with our weekly news updates, delivered straight to your inbox.

Thanks for subscribing to receive news updates from the British Beauty Council.

Pin It on Pinterest

Share this on social: