Hut Group swoops for online beauty firm Down Under

Matthew Moulding

Cheshire-based Online health and beauty retailer The Hut Group has bought RY, one of the largest online haircare groups in Australia, for an undisclosed sum.

The Hut Group, which recently bought a batch of US companies and snapped up Glossybox, the UK beauty brand, said it expects to announce “further significant investments in beauty” before the end of the year.

Online retailer RY sells products like “Milky Mist” skin treatment for $30, also operates has two salons, in Queensland.

The Hut Group said its investment “catapults THG into the number one position for online beauty and retail in Australia, where the group already owns and operates Skincarestore.com.au, which was acquired in May 2016.”

Matthew Moulding, chief executive of The Hut Group, said in the Financial Times: “We are delighted at the acquisition of RY.com.au, a leading player in the growing Australian haircare and beauty market and a business that complements our existing beauty websites such as look fantastic and Skincare store.

“At THG, we have a clear focus on health, beauty and technology and we are very proud that this most recent investment sees us become the number one online retailer for health and beauty in Australia. Crucially, it marks another step towards our goal of being the number one in health and beauty globally.”

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