The beauty blueprints are about to be altered. The Hut Group’s acquired the British prestige beauty online retailer Cult Beauty for £275 million. The Manchester-based e-commerce giant, Cult Beauty, plans to make THG the world’s number 1 digital beauty retailer, as revealed by chief executive Matthew Moulding. THG has “world-class e-commerce capabilities, as well as exciting CSR, people and sustainability initiatives.” THG’s portfolio is already huge and would bolster the e-commerce model of Cult Beauty. THG includes e-tailers Lookfantastic and Dermstore. The firm also owns beauty brands such as Illamasqua and Eyeko.
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