The Hut Group (THG), one of the world’s largest online Health & Beauty retailers and brand owners, today announced the acquisition of GLOSSYBOX, from majority shareholders Rocket Internet and Kinnevik Online. The financial terms of the deal have not been disclosed.
GLOSSYBOX was founded in 2011 in Berlin and is Europe’s number one provider of beauty box subscription services. Operating in ten core markets, with offices in the UK, Germany, France, Sweden and the USA – its model is such that customers subscribe to a box of beauty products on either a rolling monthly or fixed term basis. GLOSSYBOX basically started as a clone of the US-based company Birchbox, which originated the model of beauty box subscriptions. With the help of Rocket Internet, Germany’s GLOSSYBOX was able to scale internationally and to attract investors such as Kinnevik and Access Industries.
THG will continue to operate GLOSSYBOX from its Berlin-based headquarters and plans to further invest in talent. Prior to the acquisition, THG has built the foundations and infrastructure in subscriptions to accommodate the scope of GLOSSYBOX, with its propriety e-commerce technology platform already underpinning the successful subscription models of its lookfantastic, Beauty Box, MyGeekBox and PopInABox brands. The Group looks forward to serving and growing GLOSSYBOX’s worldwide base of engaged beauty buyers.
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “This is another significant investment for The Hut Group. 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.”
Caren Genthner-Kappesz, CEO of GLOSSYBOX said: “I am very excited about this acquisition. It was extremely important to us to find the right buyer for our 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.”