THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
The Hut Group acquires Lookfantastic Group, the online Health & Beauty company

The Hut Group has announced the £19.4m acquisition of the Lookfantastic Group, the UK’s largest online Health & Beauty retailer, as part of its ongoing strategy to become one of Europe’s largest online players.

CITY & CORPORATE

The Hut Group acquires Lookfantastic Group, the online Health & Beauty company

The Hut Group has announced the £19.4m acquisition of the Lookfantastic Group, the UK’s largest online Health & Beauty retailer, as part of its ongoing strategy to become one of Europe’s largest online players.

The deal will see lookfantastic shareholders receive £19.4m in a combination of cash & equity for a business that has been built up by the Crown family, along with business partners Keith Conniford & Martin Hurst, over the past 30 years. As part of the deal, Daniel Crown, CEO of Lookfantastic Group, will be joining the Board of The Hut Group to continue to grow the business and to assist with The Hut Group’s continued expansion into luxury goods.

The significant majority of revenues across the Lookfantastic Group are generated from its online operations, which include lookfantastic.com , lookmantastic.com & beautysleuth.co.uk. In addition, the business also plays a key role in the Health & Beauty industry by providing a training centre for hairdressers across the UK, as well as operating a number of salons in the South East.

The acquisition further extends The Hut Group’s reach into the luxury goods market and follows its recent acquisition of the UK’s largest online Gifting website, IWantOneofThose.com. Accounts to 31 March 2010 for the Lookfantastic Group report that the business generated sales of £20m, EBITDA of £2.8m and Profit Before Tax of £2.4m.

Commenting on the deal, Matthew Moulding, Founder & CEO of The Hut Group stated,“We are delighted to have entered into a partnership with the lookfantastic team. After reviewing the Health & Beauty industry earlier this year, we identified lookfantastic as the market leader. After meeting both management & shareholders, it soon became very clear that lookfantastic is a great business with a strong culture fit with The Hut Group. The strength of the existing team is a key win for The Hut Group, as we look to build experience and capability in new categories and become a key player in the luxury goods market.”

The Hut Group also said that the lookfantastic acquisition has been funded via a substantially over-subscribed £18.5m institutional fundraising from existing shareholders including Balderton Capital, Artemis, William Currie Group & ex-Matalan CEO Angus Monro.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019