The Hut Group surpasses £1bn in online sales.
Online retail giant The Hut Group has announced its 2019 results with more that £1bn in sales.
The Manchester-based Consumer brand & technology group reported sales up 24% to £1.1bn and a gross profit increase of by 22% to £511m.
The firm reports it has invested £600m in its end-to-end technology platform, THG Ingenuity, in the last three years. The platform powers both its own brands and major global consumer groups.
More than 400 in-house technical experts have worked on the platform, which THS said has now delivered over £37m of enhancements in 2019, including courier and payment method integrations and security enhancements.
“We have significantly expanded our global fulfilment capability, broadening our reach to customers in 169 countries,” said Matthew Moulding, Founder and Chief Executive Officer.
“THG has also made important investments in our THG Experience portfolio, expanding the offering of our influencer platform, bringing over 5,000 influencers currently to both our own and our partner brands.”
In April 2020, THG announced a major agreement with Nestlé Health Science (NHSc) to deliver a fully serviced, global ecommerce platform, to internationally scale a number of NHSc's brands.
The partnership will provide NHSc with a single service-point, through the THG Ingenuity platform, to launch and scale brands online in 20 territories across North America, Europe and Asia.
Also in April the firm announced a £10m coronavirus relief pledge to aid vulnerable communities, key workers and emergency services.