The Hut Group acquires Australia’s RY in online beauty push
Cheshire-based The Hut Group has bought Australia’s largest online haircare brand RY for an undisclosed sum just a week after announcing the acquisition of UK beauty brand Glossybox.
RY, an online skincare, cosmetics and haircare store, joins The Hut Group’s increasing Health & Beauty portfolio, which also incorporates Lookfantastic, SkinStore.com, Beauty Expert, Mankind and HQhair.
The Health & Beauty segment is a key priority for the group, with the company saying it expects to make “further significant investments in beauty” before the end of the year.
Chief executive Matthew Moulding said: “We are delighted at the acquisition of RY.com.au, a leading player in the growing Australian haircare and beauty market and a business that complements our existing beauty websites such as look fantastic and Skincare store.
“At THG, we have a clear focus on health, beauty and technology and we are very proud that this most recent investment sees us become the number one online retailer for health and beauty in Australia.”
The Hut Group is also owner of fashion brands like Coggles and AllSole.
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