16th Nov 2020 08:58
(Alliance News) - THG Holdings PLC on Monday said it has won three new contracts, boosting the retailer's global presence, and added that it has launched THG Eco, a sustainability-focused arm.
THG Ingenuity - the company's unit which partners with third-party brands - landed deals with swimwear brand Orlebar Brown, part of Chanel, Australian wellness business BWX Ltd, and British accessories maker Lulu Guinness.
THG, also known as Hut Group, raised GBP1.88 billion in its London stock market float in September.
The deal with Orlebar will help the swimwear brand expand its presence in Japan, China and South Korea, Hut Group said. With BWX, Hut will help the company's foray into Europe, Asia Pacific and North America.
"The ASXâ€listed company will initially target five priority markets and increase to 14 markets in financial year 2022," Hut said.
Accessories maker Lulu Guinness, famed for its red lip logo, called on Hut as it bids to grow its direct-to-consumer audience in Japan.
"The partnership will allow Lulu Guinness to continue to accelerate the brand's presence in the market and meet customers' increased desire for its products," Hut explained.
The company also announced the launch of THG Eco, "the driving force behind the group's bold sustainability action plan". THG said its vertically integrated business model means it is well placed to embed sustainability from product design to manufacture to delivery.
"Eco embodies the group's sustainability goals and will accelerate ongoing activity that will reduce THG's impact on the environment and create and implement innovative new sustainability practices," the company added.
Manchester-based Hut - which has operations within its Beauty, Nutrition and Ingenuity arms - owns brands such as online cosmetics company Lookfantastic and wellness unit Myprotein. Its Ingenuity e-commerce technology platform serves blue-chip customers such as Nestle SA, Walgreens Boots Alliance Inc and Procter & Gamble Co.
Shares in the company were 1.4% higher at 641.60 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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