The rise and rise of The Hut Group

The Hut Group rose from modest beginnings to dominate the e-commerce sector. With the company’s IPO confirmed, we look inside a one-of-a-kind British success story.

It’s been near impossible to peruse the financial news this year without seeing yet another headline celebrating the exploits of The Hut Group; the Manchester-based e-commerce conglomerate which this August announced backers could be about to cash in on a £4.5 billion floatation.

According to The Guardian, the company’s IPO will see between £500 million and £900 million of new shares sold to investors. For his part, co-founder Matthew Moulding – now the executive chairman – may receive up to £700 million under a clause which will pay out should the company reach a valuation of £7.25 billion by December 2022.

As well as a number of Manchester-based hotels, the group made it’s name through the development of a multitude of online retail sites, including Glossybox, Zavvi and Lookfantastic, as well as sports nutrition brand Myprotein and a number of beauty brands including ESPA and Illamasqua.

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