The Hut Group’s investors sell £250 million shares as demand skyrockets

Ecommerce

The Hut Group’s investors have offloaded quarter of a billion pounds in stock today as the company’s share price continues to skyrocket.

Private equity investors have offloaded £250 million of the ecommerce giant’s stock as demand from the market continued to skyrocket after its IPO last year.

Balderton Capital sold 27 million shares for £205.2 million, while West Coast Capital Assets sold a further £4 million for £30.4 million in a secondary issue of shares.

Other shareholders sold another £15 million worth of shares at 760p per share.

READ MORE: The Hut Group signs £100m of deals with beauty brands to build direct-to-consumer operations

It came just days after The Hut Group, which owns brands including MyProtein, Lookfantastic, Glossybox and Illamasqua, raised its full-year sales growth forecast to between 30 per cent and 35 per cent.

The online retailer posted a 51 per cent rise in sales in the quarter to December 31, ahead of previous guidance on sales growth during the period of between 40 per cent and 45 per cent.

The company witnessed a 66.2 per cent rise in sales across its beauty division to £298 million and now expects to deliver full-year sales growth of between 30 per cent and 35 per cent.

It is also the third time the retailer has upped its full-year forecast since debuting on the stock market in September 2020.

The Hut Group added 3.5 million new active customers during its fourth quarter, with 10.7 million added over the full year overall.

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Ecommerce

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