The British e-commerce giant has sealed a £275 million (about 322 million euros) deal to buy UK-based pure-play online prestige beauty retailer Cult Beauty. The Hut Group (THG), whose portfolio already includes Lookfantastic, Dermstore, Skinstore, Mankind and Glossybox, forecasts the acquisition to boost its sales for the next full year by £140 million, with an earnings lift of around £10 million.
Cult Beauty was co-founded in London in 2007 by Jessica DeLuca and Alexia Inge as an online...

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