In deal believed to be worth GBP 25 million, the Illamasqua move may prove a savvy one, considering that the premium segment is now outperforming the mass market in Europe.
Indeed, the Hut Group now owns a host of luxury beauty brands including ESPA, Mio Skincare, Mama Mio, Grow Gorgeous, and GLOSSYBOX.
Matthew Moulding, founder and CEO of The Hut Group (THG), said in a statement that this acquisition is the latest move in the company’s strategic plan to become “the world’s largest online retailer of Health & Beauty products by 2018”.
Illamasqua hit headlines just last month when, in the immediate aftermath of L’Oréal’s firing of transgender model of colour, Munroe Bergdorf, it hired her.
In a statement on the acquisition, THG asserted the brand’s credentials when it comes to representing diverse consumer base.
“[Illamasqua] is well-known in the beauty industry for its fearless dedication to creativity and self-expression and its campaigns celebrate diversity,” it said.
“Since its launch, Illamasqua has also upheld a strong commitment to never permit animal testing on any of its products, a principle that The Hut Group will continue to support.”
Spotlight on Illamasqua
Illamasqua was founded in 2008 by Julian Kynaston, and has become an award-winning brand renowned for its professional-grade products.
Illamasqua has branded stores located in Leeds, Liverpool and London. Its products are also stocked in Selfridges and Debenhams in 15 locations across the UK and are available direct to customers online, through illamasqua.com and THG-owned lookfantastic.com, among others.
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “I am delighted we are adding Illamasqua to The Hut Group’s growing portfolio of beauty brands.
“In Illamasqua’s unwavering commitment to professional, high-quality products and creativity, not to mention its strong identity, we saw a business with a unique proposition and an opportunity to take a strong and dynamic brand to the next level.”
Moulding confirmed THG’s commitment to taking Illamasqua forward to a global showing.
“We are confident that, with our world-class e-commerce platform and large marketing infrastructure, we will deliver significant growth and further extend Illamasqua’s global customer base.
“This investment is another step in our ambition of becoming the world’s largest online retailer of Health & Beauty products by 2018.”