The Hut Group has announced the acquisition of cosmetics brand Illamasqua for an undisclosed sum.
The firm was founded in 2008 by Julian Kynaston, the chairman of Leeds’ Propaganda and non-executive director of Razor.
“I am truly excited about The Hut Group’s acquisition of Illamasqua. We have been working with THG for over a year now and have seen great successes, so this move was a natural step for the brand,” he explained.
“Finding the right partner, with whom we could align our vision for the future, was of crucial importance and I’m in no doubt that The Hut Group’s digital strength and marketing expertise will take Illamasqua to the next level.”
Renowned in the industry for its “fearless dedication to creativity and self-expression” its campaigns have celebrated diversity, while also taking a strong stand against fascism.
The Hut Group said that it will continue to support its principles, including a commitment to never permit animal testing on any of its products.
“I am delighted we are adding Illamasqua to The Hut Group’s growing portfolio of beauty brands. In Illamasqua’s unwavering commitment to professional, high-quality products and creativity, not to mention its strong identity, we saw a business with a unique proposition and an opportunity to take a strong and dynamic brand to the next level,” added Matthew Moulding, founder and chief executive officer of The Hut Group.
“We are confident that, with our world-class e-commerce platform and large marketing infrastructure, we will deliver significant growth and further extend Illamasqua’s global customer base. This investment is another step in our ambition of becoming the world’s largest online retailer of Health & Beauty products by 2018.”