Image source, ThG Holdings
Image caption

Matthew Moulding and his wife Jodie are worth £2.1bn according to the Sunday Times Rich List

THG, the boss of the health and beauty company THG, has suggested that he might take the company private. This is just over a year after it was listed on the London Stock Exchange.

Matthew Moulding stated to GQ men’s magazine that he regrets listing THG (which owns Lookfantastic) in the UK. This is despite its share price falling 70%.

According to him, the entire process had been “just sucking from start-to-finish” but he added that as a large shareholder he could have “options” regarding its future.

THG shares rose by as high as 5%

THG, formerly The Hut Group, floated on the stock market with a valuation of £5.4bn.

Shares of the company reached a peak at 800p in January, but are currently trading at just 213p.

After a string of problems with its structure and corporate governance, the value of the company has been erased. Softbank bought a share in Ingenuity’s technology business to purchase a portion of its stock.

“I ought to have IPOed here in America. It’s quite obvious. I didn’t do it because I wanted to do everything in Britain,” said Mr Moulding who, along with his wife Jodie, has a net worth of £2.1bn, according to the Sunday Times Rich List.

He stated that he tries to just “get through the day” at the moment.

His wife Jodie came into my home at four in the morning. He stated that she had witnessed me making phone calls and starfish lying on the flooring, simply because it was cold.

  • The US is expanding and the UK’s beauty boss has made a billion dollars
  • Hut Group boss dumps ‘golden share’ in overhaul

THG’s chief executive, founder, and chairman, Moulding announced in October that he would surrender his “golden stake” in THG. He had previously prevented the company from being listed in London’s FTSE indexes, and allowed him to stop a takeover.

Last month, the online retailer of beauty products and software company, which includes brands such as Cult Beauty, Illamasqua, and Myprotein supplements, stated that it is looking for an independent chairman.

Moulding claimed that the UK’s market could work in certain circumstances.

“But I don’t think there’s any example, I don’t believe,” he stated.

It has quickly grown by buying skincare and lifestyle brands, as well as operating online platforms to sell other brands.

M. Moulding had described his stress over the past year as: “Genuinely, I can tell, from the minute I announced on my Insta, the IPO, since that day forward, has been the most stressful period in my life.” Never.

In an apparent indication that he might take the firm back private, he stated that he was a big shareholder in the company and would be keeping an open mind about its future.

BBC News asked THG to clarify the remarks of Mr Moulding, and it declined.

The executive stated that his plan for the holiday trading season is to just “keep doing the same thing” at the moment.

In late October, THG announced that group revenues had increased by 38% to £507.8m in the three months to September on the same quarter last year.

Ingenuity also saw an increase in revenue, which it plans to license to other online merchants.

He said that Mr Moulding had “revealed a strong third-quarter trading performance and are now entering our peak trading period confidently.”


Share Your Comment Below



Please enter your comment!
Please enter your name here