Online retail giant The Hut Group has announced its 2019 results with more that 拢1bn in sales.
The Manchester-based consumer brand & technology group聽reported that聽sales were聽up 24% to 拢1.1bn alongside a聽profit increase of 22% to 拢511m.
The firm reports it has invested 拢600m in its end-to-end technology platform, THG Ingenuity, in the last three years. The platform powers both its own brands and major global consumer groups.
More than 400 in-house technical experts have worked on the platform, which THS said has now delivered over 拢37m of enhancements in 2019, including courier and payment method integrations and security enhancements.
鈥淲e have significantly expanded our global fulfilment capability, broadening our reach to customers in 169 countries,鈥� said Matthew Moulding, Founder and Chief Executive Officer.
鈥淭HG has also made important investments in our THG Experience portfolio, expanding the offering of our influencer platform, bringing over 5,000 influencers currently to both our own and our partner brands.鈥�
In April 2020, THG announced a major agreement with Nestl茅 Health Science (NHSc) to deliver a fully serviced, global ecommerce platform, to internationally scale a number of NHSc’s brands.
The partnership will provide NHSc with a single service-point, through the THG Ingenuity platform, to launch and scale brands online in 20 territories across North America, Europe and Asia.
Also in April the firm announced a 拢10m coronavirus relief pledge to aid vulnerable communities, key workers and emergency services.