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Ironically (I think?) this fund was also started 22 years ago.
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The MPF on average lost 21.5 per cent in the first nine months, the worst performance since it launched 22 years ago

https://www.scmp.com/business/banking-finance/article/3194983/hong-kong-residents-nest-eggs-shrink-hk56500-each

Sp, your post earlier on Ingenuity conference, do you have any further info?

cheers

There's the incumbent shareholder/founder holding a big percentage, that said the Hutchmed story has been going on for so long (22 years) there could be a change of heart there too.

Li Ka-shing is no in his mid-nineties, he too may see a better path merging with a European partner.

Consider the options open to retailers at the moment, perhaps I am oversimplify this but can only see viable path.

If you take the Covid pandemic as an example, there wasn't any middle ground it was a case of booking shopping slots way in advance and rationing of certain items.

The headlines we are seeing are just that, sensationalist but there is a core underlying issue with both climate change and soaring energy costs.

Of course it doesn't have to be THG Ingenuity there are many other platforms/distribution hubs out there, Ingenuity seems to have a very good offering and should see at least some of the traffic migrating away from bricks and mortar.

It has to be likely we will see a surge back towards online shopping, once the clocks go back later this month shops will start switching on ever earlier.

Its going to be very hard to light and heat an entire mall when everyone is being encouraged to save energy, as mentioned before the Cathedral like structures were never intended for this purpose instead more of a visual attraction.

I've sat around a candle before...

.. when it got really cold we used to light it..

Duncan Bannatyne's gyms are latest to shut saunas and pubs turn to candlelight in energy cutbacks

https://www.dailymail.co.uk/news/article-11287101/Consumers-paid-run-washing-machines-charge-electric-cars-outside-peak-hours.html

Now that's a PE company

https://www.lcatterton.com/Investments.html#!/current/M:nag_major/List_of_Catterton_Transactions

https://www.lcatterton.com/Press.html#!/LC-elemis-loccitane

Shocks and scare are a unusual asset class, during recent turmoil your house (if owned) probably went down a fair bit there is no live quite, same with cars but generally we are not reminded until we opt to trade in

Someone posted research from I believe AXA or similar where they asked who were their most successful investors, the replay came back either those that were deceased or had lost their passwords lol

So, so, so, so many positives on the 1 side.
On the other side there is the sp.

'targeted investment in manufacturing'

The days of sourcing cheap products from overseas are on the way out, complete traceability from acquiring raw materials through manufacturing, packaging and fulfilment.

THG are way out in front in this regard, lots of forward thinking combined with targeted investment in manifesting has insures they have a future proof and sustainable (unlike fast fashion) business model.

Xmas this year is going to be different, pubs are already exploring ways to stay heated and open using candles and open fires, chainsaw sales are up 40%.

That's the guy from Salesforce, good to hear him speak - eloquent.

Mentioned ESG Environmental, social and (corporate) governance (ESG) a little while back, take a look at Nestles efforts and how seriously they are making strides, no doubt each supplier/partner is vetted too for alignment to their own ESG goals similar to THG

https://www.nestle.com/investors/environmental-social-governance-sustainability

Most of the companies have looked at have a 2030 net zero target yet little or no mention in any analyst notes despite investment needed.

Those that don't comply could find themselves squeezed out of supply chains altogether.

Heart felt post there Sp and couldn't agree more.

No worries 2phevs, good plug for three of their brands, roll on the Xmas box subs ..

LOOKFANTASTIC, GLOSSYBOX & CULT BEAUTY

CULT BEAUTY ADVENT CALENDAR

PRICE: £235

PRODUCT VALUE: £1000

https://www.dailymail.co.uk/femail/article-11274817/Beauty-advent-calendars-Liberty-Charlotte-Tilbury-Selfridges-unveil-calendars.html

The filtering used seems to favour THG owned sites in the top five, or its possible those highlighted are the most popular.

Impressed with the exante overhaul (THG owned)

"It wasn’t long before the brand saw an uplift in online sales. But that was just the beginning. Instore sales also grew as Superdrug stocked the new-look range. The products also caught the eye of medical experts who used them in clinical trials to prove how VLCs could help reverse Type 2 diabetes. This then attracted national media attention from the likes of This Morning, ITV and The Daily Mail. All in all, Exante’s growth exceeded 100%, and shows no sign of slowing down anytime soon."

It looks as though Ingenuity are picking up a lot of the smaller players too, as highlighted with Custom Cart which looks very dated.

Shopify is another platform that is struggling hard with a somewhat limited offering, the big advantage with Ingenuity is you can start with one or two services then as you go bolt on fulfilment, THG Studios and so on.. nice example below of THG Studios helping revive a brand.

Exante rebrand

https://www.thgstudios.com/campaign/exante/

https://www.exantediet.com/

I think its worth pointing out that not al of those 47 will necessarily take all services, for example those moving from Custom Cart may only have hosting and payment - drop shipping in the US is extremely popular too, Walmart has just set up a warehouse which facilitates drop shipping clients.

You can see from Custom Carts charges that they will of low monetary value, but hey, acorns and all that..

https://www.customcart.com/

Store Leads updated today;

Between 23 - 30th Sept added'4 new stores, some not fully active yet.

"Over the last 90 days, THG Ingenuity has taken 47 merchants from competitive ecommerce platforms."

v

"Over the last 90 days, THG Ingenuity has lost 3 merchants to competitive platforms."

stevescott1001, its not up yet for Sept, have a go accessing it as a guest - although my login is an old corporate account subscription lapsed sometime ago.