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The Hut Group talks up its tech talent after year of growth

The Hut Group (THG) announced another year of significant sales growth today (3 July), and CEO and founder Matt Moulding talked up the organisation’s commitment to creating jobs and developing tech talent across its workforce.

In the 12 months to 31 December 2018, group sales were up by 24% to £916 million, aided by acquisitions such as Eyeko, Ameliorate and Acheson & Acheso, and continued strong performances from longstanding brands in its portfolio, like Lookfantastic.

International sales represented 66% of overall group sales, but the company did not reveal profit before tax figures.

Over the course of the year, THG committed £180 million of investment towards technology, beauty and infrastructure – and Moulding said there is more to come in the 12 months ahead.

Last week, THG announced it will open its first customer showroom, in Manchester city centre, and the company has already agreed a "$1 billion landmark" investment to construct a major new business campus at Manchester Airport which will create up to 10,000 jobs.

“THG’s investments during 2018 have been followed by further investments to date in 2019, resulting in over £850 million of investment across beauty, technology and infrastructure since 2016 and the vote on Brexit,” Moulding noted.

“This scale of investment propels THG’s proposition across global markets, deepening our strategic advantage and enabling us to digitalise brands at scale.”

He added: “Talent is key to our success, and the announcement of our agreement to invest $1 billion in the new THQ business campus demonstrates our strong commitment to investing in our people.”

Some £82 million was invested in strategic acquisitions during the year, including Language Connect, a leading language translation and localisation services company, which aids the business’s proprietary eCommerce technology used to support its portfolio of brands.

The group said its platform now operates across 31 languages and 39 currencies, and is supported by 37 payment options and delivers to 169 countries supported by over 30 final-mile couriers.

By the end of 2018, THG employed more than 5,000 people, which is approximately double the number employed at the end of 2016. The group also expanded on its THG Academy and Accelerator programmes, which it said helps delivers technology leaders of the future.

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