THG Ingenuity news and archive

THG to spin off Ingenuity into private company, reports continued growth in Q3

THG reported third quarter revenue of 433.1 million pounds, down 0.6 percent. The company however witnessed continued growth in THG Beauty and THG Ingenuity, with improving trends in THG Nutrition during the quarter. The company said in a statement that it is demerging Ingenuity into an independent private company at an equity valuation of up to...

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THG Ingenuity expands US team, appoints Scott Davis and Alex Felton in key roles

THG Ingenuity has expanded its US team to support the growth of THG Fulfil. The company has appointed Scott Davis as senior vice president of sales and Alex Felton as vice president of partnerships & alliances. "Broadening our US operations allows us to serve a wider range of brands and retailers and support them as they look to scale and...

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THG sees strong H1 trading, partners with Frasers Group

THG Group has announced the company made further progress in the first six months of 2024 in line with previous revenue guidance, and the second quarter is expected to represent the third consecutive quarter of year-on-year revenue growth. The company said in a statement that the performance is underpinned by positive trading within the beauty,...

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THG delivers 4.5 percent Q1 sales increase

Overall THG Group achieved first quarter revenue growth of 4.5 percent to 455.4 million pounds. The company said in a release that THG Beauty delivered a growth of 11.1 percent to 267.6 million pounds following targeted changes to geographic strategy through 2023, focusing on more profitable customers and territories closest to the global...

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THG manages to narrow FY23 losses, revenues drop

THG Group’s preliminary revenue declined 8.4 percent, while the group’s continuing revenue of 1,983.7 million pounds, declined 2.8 percent as the company prioritised profitable sales and territories reflected in the higher quality EBITDA. Fourth quarter revenue improved 1.1 percent. The company said in a statement that the UK was a key growth...

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THG Ingenuity chief steps down

Vivek Ganotra, the chief executive officer of THG Ingenuity, has stepped down from the role after just two years. Ganotra had first been appointed to the position at the technology firm back in June 2022, joining from Salesforce where he most recently served as SVP and chief customer officer, UK&I. A spokesperson for THG confirmed the news to...

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Ingenuity names first chairman to support growth

Ingenuity, the complete commerce business of THG plc, has appointed technology and payments entrepreneur Alistair Crane as its first chairman to support plans to accelerate growth in core markets, including the US. Crane, currently chief executive of digital career coaching business Bloom, joined THG on January 2 and has been appointed to...

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THG: H1 losses widen as revenue falls 9.3 percent

British retail giant THG has reported an almost 10 percent drop in revenue and widening losses in the first half of the year as it continued to cut down on loss-making categories. The group, which owns a raft of fashion, beauty, and nutrition brands including Lookfantastic and Myprotein, reported a 9.3 percent drop in revenue to 969.3 million...

Business |Beauty

THG Ingenuity strengthens Australian market presence

Ingenuity, the complete commerce division of THG plc, has announced key partnerships with Australian beauty brands, including Haircarebear and Celebrity Slim, part of Australian Health Vitality, and Skin Virtue, as it looks to strengthen its market presence in the region. The partnerships will enable Ingenuity to facilitate “seamless expansion...

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THG says profitability improving, appoints independent non-exec director

UK-based e-commerce group THG said Wednesday it expects “a significant increase in H1 2023 profitability” following a “strong Q2 2023, with a continued successful focus on profitability and cash generation”. It said it expects H1 adjusted EBITDA in the range of 44 million pounds to 47 million pounds, up from 32.3 million pounds the prior year,...

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THG Ingenuity partners with PwC to bolster e-commerce capabilities

THG Ingenuity, the technology services division of British fashion and beauty retail group THG, has announced a partnership with international professional services firm PwC to bolster digital commerce. As part of the deal, “PwC will lead on the business strategy, research, and design of the brand web stores, and Ingenuity will provide the...

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THG Ingenuity inks partnership with BigCommerce

THG Ingenuity, the technology services division of British fashion and beauty retail group THG, has announced a partnership with BigCommerce, a Nasdaq-listed Open SaaS e-commerce platform. The partnership will see the company’s develop a solution that aims “to give brands the opportunity to utilise BigCommerce’s trusted enterprise ecommerce...