The Hut Group (THG) has stepped up its ethical stance on the UK beauty recycling front. The e-commerce platform that retails a vast range of fast-moving consumer goods has introduced recycle:me by THG.
The Hut Group continued to outperform in the fourth quarter with the company saying on Tuesday that it saw revenue growth of 51% year-on-year, much better than the range of 40% to 45% that it had predicted earlier.
The Hut Group may be powering webstores for brands globally via its THG Ingenuity division, but it's clearly focused on doing what it knows it can do well and bringing in partners for some specialisations.
Frasers Group was reportedly racing to try to do a deal on Debenhams at the weekend, but reports also suggested that US-based Barneys owner Authentic Brands has both Debenhams and Arcadia in its sights.
The Hut Group said Monday that sales were “ahead of expectations across all divisions” for October and November and it also announced a new deal with Jack Wills to power the clothing brand’s e-tail site.
The Hut Group has rarely been out of the news in recent months and on Monday it made headlines again as it announced a third-quarter trading update that showed its business continues to go from strength to strength.
Shares in Polish e-commerce group Allegro leapt more than 60% on their debut on Monday, giving the company a market value of almost $19 billion in Europe’s biggest initial public offering (IPO) so far this year.