THG (The Hut Group) has agreed to sell its portfolio of luxury goods websites to Frasers Group, owned by Mike Ashley. Included in the sale is the premium fashion retailer Coggles. THG acquired Coggles’ online business out of administration in 2013, although this did not include its stores business. THG opened a physical store for Coggles in Alderley Edge, Cheshire in 2018. The luxury division recorded annual sales of £43 million and broke even for fiscal year 2023. After the sale, THG will continue to provide technology, digital marketing, and fulfilment services through its Ingenuity platform for the luxury portfolio. In a parallel development, THG Ingenuity and Frasers Group have entered a multi-year agreement for courier management services and to re-platform Frasers Group’s Australian fulfilment and logistics operations. Furthermore, Frasers Group’s credit and loyalty platform, Frasers Plus, has been integrated into Ingenuity’s checkout process, and will be made available to THG Beauty and Nutrition customers and Ingenuity clients. Additionally, THG Nutrition’s Myprotein products will be launched in Sports Direct stores, which are part of the Frasers Group. Frasers Group had previously acquired Matches for £52 million in December 2023, but placed it into administration within four months. Similar outcomes occurred with its acquisitions of Aphrodite, Kids Cavern, and Base Childrenswear.

Retail, Technology, Logistics & Fulfilment,United Kingdom, Australia

THG offloads division to Mike Ashley’s Frasers Group