The Hut Group wins Queen’s Award for Enterprise

15-May-2018 - Last updated on 15-May-2018 at 11:08 GMT

The rising online FMCG retail giant has apparently won royal approval with the Queen’s Award for Enterprise in the UK.

THG was recognised in the International Trade category, having grown its overseas revenues by 89% (to £316m) in the year to 31 December 2016.

THG is fast becoming one of the world’s most influential online retail organisations, it operates over 140 highly profitable websites retailing premium, non-perishable FMCG products direct to consumers across the fast growing, global Health & Beauty markets.

The Group now ships to 195 destinations worldwide, selling products through its 166 sites in 35 languages. THG employs over 4,000 people and has distribution centres in Cheshire and in Kentucky, USA; the Group is currently constructing a third distribution centre in Poland, bringing next-day delivery on its products to continental Europe.

Online retail: UK

The Hut Group’s focus on premium carves out a niche for it in the UK, where otherwise the mass market is a highly competitive space for beauty retail online.

According to digital market insights firm L2, online retail in the UK is seeing Amazon compete aggressively with other specialty retailers present on the market.

FeelUnique, allbeauty and lookfantastic each enjoy good market share, in the absence of Sephora, which dominates elsewhere in the world (see the US).

“Amazon.co.uk continues to compete aggressively with these splintered specialty players, more than doubling its visibility for branded items year over year, accounting for 20% of paid results, compared to 9% last year,” explains L2.

The firm notes that Amazon has been accelerating its investment in the UK market (not limited to beauty, but across the board).

Recognised: ambition, innovation & dedication

The Queen’s Awards for Enterprise were announced at the end of April.

Commenting on The Hut Group’s success, Matthew Moulding, Founder and CEO, said: “We are delighted to be recognised as part of The Queen’s Awards for Enterprise, which celebrates the wealth of business talent that the UK has to offer.

“Receiving the prestigious International Trade award is testament to the ambition, innovation and dedication of our people in developing The Hut Group into an internationally renowned, British business.”