The Hut Group, a prominent e-commerce platform, has once again showcased its impressive performance in the fourth quarter of the year. Surpassing initial predictions, the company reported a remarkable 51% year-on-year revenue growth, with THG Beauty and Ingenuity Commerce leading the way.
THG Beauty, a key segment of the Hut Group, experienced an impressive revenue surge of 66.2% in Q4, reaching £298.2 million. This growth trend continued from the previous quarters, resulting in a significant increase for the second half and the full year. On the other hand, THG Ingenuity also saw a substantial revenue growth of 34.7% in Q4, contributing to the overall success of the group.
The total group sales for Q4 amounted to £558.7 million, reflecting a 41.4% increase for the full year at £1.612 billion. Additionally, the Hut Group added over 3.5 million new active customers in Q4 alone, bringing the total new customer count for the year to over 10.7 million. The company also noted a remarkable growth in app users, reaching 2.6 million by the end of the quarter.
Moreover, the Hut Group announced new contract wins for THG Ingenuity, including partnerships with renowned brands such as Galderma, Creed, and L’Occitane Group’s Erborian. These collaborations are set to further strengthen the company’s position in the e-commerce industry and expand its global reach.
In conclusion, the Hut Group’s strong performance in Q4 highlights its dedication to innovation and excellence. With a focus on expanding its beauty offerings and securing strategic partnerships, the company is poised for continued growth and success in the future.
For further reading on the e-commerce industry and the Hut Group’s success, check out the following links:
1. The Grocer – Hut Group lifts sales guidance after record Q4
2. Beauty Executive – THG posts record sales for the fourth quarter of 2021
