The Hut Group (THG), an online health & beauty retailer and brand owner, acquired Glossybox, a Berlin, Germany-based provider of beauty box subscription services.
Sellers in the deal, whose amount was not disclosed, were majority shareholders Rocket Internet and Kinnevik Online.
The acquisition represents a strategic move for THG as it looks to extend further its international reach.
Founded in 2011 and led by Caren Genthner-Kappesz, CEO, Glossybox operates an e-commerce technology platform allows customers to subscribe to a box of beauty products on either a rolling monthly or fixed term basis. The company, which currently has offices in the UK, Germany, France, Sweden and the USA, has subscribers in Germany, Austria, Switzerland, France, the UK, Ireland, Sweden, Norway, the USA and Canada and holds relationships to over 500 international beauty brands.
FinSMEs
14/08/2017