International sales set to top 50% at The Hut Group

THE HUT Group, the fast-growing e-tailer expects international sales to eclipse UK revenues as early as January as overseas demand continues to surge.

Chief executive and co-founder Matthew Moulding told an international trade event in Lancashire that the ‘cool Britannia’ tag was working for The Hut, particularly in China, where British made-brands and products is growing month-on-month.

He revealed the Cheshire-based group – which owns a number of lifestyle brands such as MyProtein and Myvitamins and fashion websites such as Lookfantastic, BeautyExpert and mybag – was closing-in on annual revenues of £200m.

In October the group said 35% of sales were to international customers. Selling overseas began in 2010 when its zavvi.com entertainment site launched in Spain and the  Netherlands.

Mr Moulding was one of the speakers at UK Trade & Investment’s ‘Let’s get Exporting’ event in Preston. Other speakers included leading economist Mark Berrisford-Smith of HSBC, UKTI’s regional director Clive Drinkwater, manufacturing company boss Dennis Mendoros, Richard Unwin from Lancaster digital marketing company Backbone It and Colin Walmsley from Preston logistics provider NW Forwarders.

Mr Berrisford-Smith said the recent improvement in the domestic economy had been led by consumer spending on the back of improved confidence in the housing market, rather than by a dramatic success in attempts to rebalance the economy by manufacturing and exporting more.

He said the challenge would not be easy due to slow growth in world trade – which he said was down to the weak recovery in the euro zone.

“If we are to have a sustainable recovery, we are going to need growth built on investment, manufacturing and export. It can be done – our automotive sector is one example, which has gone from a laughing stock and a national disgrace to being absolutely world class.”

Clive Drinkwater from UKTI praised Lancashire as the region’s “heartland of manufacturing and exports”, and said despite growth last year in exports from the North West, continued effort is needed.”

“It is proven that exporting businesses are more resilient, productive and profitable. UKTI is here to help. Last year I had a challenge to find 1,000 new exporters in the region and we did, but we need to do it again and again.

“We are not going to change the economic landscape in two or three years.”