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”.


Related reads:

Top social media trends to take into 2024, according to researchers

Top social media trends to take into 2024, according to researchers

With more brands budget being allocated to digital and consumers using their favourite platforms as beauty search engines, here’s everything you need to know about key social media trends heading into the new year  This weekend, I was indulging in my usual Saturday...

Autumn Statement 2023: What does it mean for beauty?

Autumn Statement 2023: What does it mean for beauty?

Last week, the Chancellor delivered his Autumn Statement 2023. Here's everything you need to know about how the measures will affect the beauty industry... The Chancellor of the Exchequer’s Autumn Statement was delivered on November 22, giving an update on the current...

For more information, check out:


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: