The Hut Group is on an acquisition spree. On the heels of the GlossyBox transaction last week, they have announced the purchase of Australia’s largest online hair care brand RY for an undisclosed sum.
WHO: RY, which stands for “Recreate Yourself,” was founded in 2005 by James Patten and Brad Carr. The retailer is one of the largest online hair care and beauty stores in the Australia, offering over 250 premium skin care, hair care, and cosmetics brands. The business also operates two brick-and-mortar salons, in Burleigh and Southport, Queensland.
Built on a foundation of proprietary industry-leading technology, a world-class team, and a scientific approach to building global brands, The Hut Group (THG) was founded in 2004 by Matthew Moulding and John Gallemore and operates more than 140 web sites that sell health- and beauty-related products.
IN THEIR OWN WORDS: Chief executive Matthew Moulding said in Prolific North: “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.”
WHY: The Health & Beauty segment is a key priority for the group; the company says it expects to make “further significant investments in beauty” before the end of the year.
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