Luxury online department store has secured private funding to aid expansion.
Online marketplace The Hut is looking to further expand its presence in the health and beauty sector, securing private funding to use for acquisitions.
The Financial Times reported that the luxury online department store – which specialises in fashion, homeware, beauty and lifestyle products – has secured up to $200 million.
The news comes as the etailer posted an increase in turnover for 2015 to £335 million, with like for like sales up 34%. This rose to 51% in November on the back of Black Friday, said the FT.
Chief executive Matthew Moulding (pictured) has previously noted that 90% of the group’s sales were in the health and beauty category.
The Hut stocks a wide range of entertainment licences, including Star Wars, Frozen, Peppa Pig, Superman, Teletubbies and Minions, across various categories.
