The Hut Group buys Zavvi online
THE Hut Group has acquired the name of entertainment retailer Zavvi from administrators and is relaunching its website today.
The deal will see The Hut group double its number of employees, with creation of up to 100 jobs over the next 12 months at the company’s head office in Northwich.
The company said the new Zavvi website will offer a much broader range of entertainment products as well as lifestyle products, including electricals, computing and perfumes, at much lower price points than previously on offer.
Matthew Moulding, chief executive of The Hut Group, said: “Zavvi is a major player in entertainment retail, both in the UK and Ireland. Our aim is to capitalise on this well recognised high street brand and transform the business into a leading class online retailer, not only in entertainment, but also across lifestyle products.
“The new discounted price points, supported by significant future investment in customer driven functionality improvements, should enable us to create an exciting online retailer.”
Clearwater Corporate Finance advised The Hut Group on the deal.
Alongside the company’s online retail site TheHut.com, The Hut Group runs a white label website service for retailers including Asda, DSGi group and LoveFilm.
