The Hut Group has acquired GLOSSYBOX for an undisclosed sum from majority shareholders Rocket Internet and Kinnevik Online.
Founded in 2011, GLOSSYBOX has offices in the UK, Germany, France, Sweden and the USA and its customers subscribe to a box of beauty products on either a rolling monthly or fixed-term basis.
THG plans to build on GLOSSYBOX’s presence in Berlin investing in talent in the German city and turning it into a tech hub for the Group.
Matthew Moulding, founder and CEO of The Hut Group, said: “In GLOSSYBOX, we have acquired a great brand, with a solid and engaged customer base that, once powered through our platform and marketing infrastructure, should be capable of further significant growth.”
“At THG we have a relentless focus on both Technology and Beauty. With our world-class proprietary ecommerce platform, we are confident we will continue to deliver strong growth and extend our global reach,” he added.
Caren Genthner-Kappesz, CEO of GLOSSYBOX said she is “very excited” about the acquisition and believes that, in THG, she found the right buyer for her brand.
“One that complements us and can use its retail know-how and technological capabilities to accelerate and strengthen GLOSSYBOX further in its journey of being a global industry-leading brand and a well trusted beauty advisor for our engaged subscribers,” she concluded.
Prior to acquisition, GLOSSYBOX raised over $72m across two rounds from four investors.