BEAUTY
The Hut Group acquires Cult Beauty
Date Posted: Wednesday 4th August 2021
The Hut Group has acquired Cult Beauty for a total of £275m. Cult Beauty, which was founded in 2007 by Alexia Inge and Jessica Deluca, sells around 300 independent brands, such as Charlotte Tilbury, Living Proof and Molton Brown. Cult Beauty is chaired by Carmen Busquets, co-founder of the online fashion site Net-a-porter. Its investors include Mark Quinn-Newall and Murray Salmon, who also backed Net-a-porter.
THG's purchase of Cult is the latest in a string of transactions in the online beauty sector.