THG has bought American skincare brand Perricone MD for $60m (\u00a347m) in its first acquisition since it floated.<\/p>\n
It plans to use its digital expertise to boost Perricone MD’s margins up to the levels it has achieved with previous THG Beauty brand acquisitions.<\/p>\n
Perricone MD is currently profitable at the EBITDA level although THG “anticipates minimal impact in the current financial year”.<\/p>\n
Matthew Moulding, chief executive of THG, said: “Perricone MD has a strong heritage, a loyal customer base and is a truly exciting addition to THG\u2019s beauty portfolio.<\/p>\n
“The online beauty and skincare sector is growing rapidly, and this acquisition enables us to further strengthen our position as the world\u2019s leading pure-play speciality beauty brand owner and retailer.”<\/p>\n
Perricone MD will join THG’s portfolio of beauty brands which includes ESPA, Christophe Robin, Grow Gorgeous and Illamasqua.<\/p>\n
More than 50% of revenues across its existing portfolio of seven existing beauty brands are now generated from direct-to-consumer sales globally online.<\/p>\n","protected":false},"excerpt":{"rendered":"
Group plans to use technology to boost profits at American skincare brands<\/p>\n","protected":false},"author":18,"featured_media":2065455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[81],"class_list":["post-2067134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-top-story"],"yoast_head":"\n