Cheshire-based online retail giant The Hut Group, home to well-known online brands such as Myprotein and lookfantastic, has seen its annual sales increase by 50% to over £500m on the back of international growth and a raft of brand acquisitions through the year.
Sales at the private equity-backed group increased to £501m for the year to the end of December (2015: £334m), while underlying profits grew 67% to £50m.
International Sales were up 89% to £316m (2015: £167m), constituting 63% of group sales, and according the group this rose to over 70% in the first quarter of 2017.
The Northwich-headquartered company created 1,200 UK jobs during the year, taking its total workforce to 3,100 and it said it expects to create a further 3,000 jobs over the next two years.
An impressive £63m was spent on acquisitions to develop The Hut Group’s own brand proposition as well as geographical reach of its beauty supply chain, while £153m was spent on physical infrastructure projects including manufacture, distribution, supply chain and office accommodation. This included two food production and distribution facilities commissioned – a 1m sq ft Cheshire based facility (Omega) and a Kentucky-based US facility.