Last checked at 6 Apr 2023 07:00
06 April 2023
THG PLC
THG Ingenuity announces a strategic partnership
THG announces 10-year strategic partnership with expanding beauty and fragrance group
THG PLC ("THG" or the "Group"), today announces a new partnership with beauty e-commerce retailer Maximo Group ("Maximo"), home to destination sites including allbeauty.com and fragrancedirect.co.uk.
The 10-year partnership will initially focus on re-platforming All Beauty and Fragrance Direct to the Ingenuity platform, as part of Maximo's strategic growth plans. THG Ingenuity will also become Maximo's key UK operational partner, providing warehouse and fulfilment services from Q2 2023.
The end-to-end technology and fulfilment services agreement encompasses: website services including design, build, hosting and maintenance; warehousing and fulfilment services; and end customer delivery services via THG's network of global couriers.
The partnership between THG Ingenuity and Maximo Group is expected to add in excess of £150 million GMV to the Ingenuity platform annually, with the ambition to re-platform the site by the end of Q2 2023.
Matthew Moulding, Chief Executive Officer, THG PLC, commented:
"We are proud to announce our partnership with Maximo. This represents the early fruits of our focus on larger enterprise customers and underlines our position as the online partner of choice for the prestige beauty industry. I am delighted with the progress of our refocused sales team, with our pipeline continuing to build momentum. Our unique end to end global multichannel solution means our addressable market across beauty, FMCG and retail is significant and will continue to expand as a result of our continuous programme of innovation."
Vivek Ganotra, THG Ingenuity Chief Executive Officer, commented:
"We are delighted to develop further our reputation as the go to e-commerce partner for digital transformation in the beauty and wellness categories. Expansion into new international markets is a strategic priority for Maximo Group, with our global distribution network and cross-border expertise enabling its brands to capitalise on the growing digital channel shift across many beauty categories."
Ian Smith, Maximo Group, commented:
"Aligning our digital strategy with THG Ingenuity's technology and operational capabilities will enable our customers to benefit from an enhanced shopping experience, from browsing on site, through checkout to delivery. As a brand owner, THG understood our ambitions from the outset, with Ingenuity's track record of re-platforming large beauty brands making them a natural strategic partner. We have been deeply impressed with the speed at which Ingenuity have delivered and their commitment to a true partnership from outset."
For further information please contact:
Investor enquiries: | |
Greg Feehely, SVP Investor Relations Kate Grimoldby, Director of Investor Relations and Strategic Projects | Investor.Relations@thg.com |
Media enquiries: | |
Powerscourt - Financial PR adviser | Tel: +44 (0) 20 7250 1446 |
Victoria Palmer-Moore/Nick Dibden/Nick Hayns | thg@powerscourt-group.com |
THG PLC Viki Tahmasebi
|
Viki.tahmasebi@thg.com |
|
ENDS
Notes to editors
THG is a vertically integrated, digital-first consumer brands group, retailing its own brands in beauty and nutrition, plus third-party brands, via its complete digital commerce solution, Ingenuity, to an online and global customer base.
THG Ingenuity: Ingenuity provides a complete digital commerce solution for consumer brand owners across its three pillars of technology, digital and operations. Being part of the THG group, a global digital brand owner in Beauty & Nutrition, Ingenuity is uniquely placed to bring relevant, practical, and international expertise in every area of commerce.