The Hut Group has announced it has acquired online health and beauty specialist, the Lookfantastic Group.
The acquisition cost 19.4m and will see Lookfantastic’s online stores such as lookfantastic.com, lookmantastic.com and beautysleuth.co.uk integrated into The Hut’s extensive portfolio.
As such, the 1m+ predominantly female customer base that Lookfantastic has established over the years will be targeted by The Hut’s cross-site marketing system, pushing products such as video games from its outlets such as Zavvi.com, Gifted.com and the recently acquired IWantOneOfThose.com.
We are delighted to have entered into a partnership with the Lookfantastic team,” said The Hut Group’s founder and CEO Matthew Moulding. Lookfantastic is a great business with a strong culture fit with The Hut Group and the strength of the exisiting team is a key win for us.”
As part of the deal, Lookfantastic Group CEO Daniel Crown will join the Board of The Hut Group.
Crown added: When we spoke to The Hut, we immediately recognised they were the right partner for the next stage of Lookfantastic’s growth. Together we aim to create a luxury consumer division and are absolutely dedicated to ensuring that we promote and protect our brand partners, whilst continually enhancing the customer experience.”