Australian and New Zealand online beauty retailer RY.com.au has been acquired by one of the UK’s largest health and beauty e-commerce businesses, The Hut Group.
Ry.com.au has been approached to sell numerous times, according to its co-founder, James Patten. “For us, it was great timing. We had been approached many times but always wanted to exit the business knowing that whoever was taking over had the same ambition as us to become the number one. After speaking and working with The Hut Group on the deal we could tell that they were going to do great things with Ry.com.au.”
RY, which means “Recreate Yourself” was established in 2005 by James Patten and Brad Carr (pictured above) on the Gold Coast. The retailer has grown to become one of the largest online haircare and beauty stores in the Australia, offering over 250 premium skincare, haircare and cosmetics brands. The company also operates two bricks-and-mortar salons, in Burleigh and Southport, Queensland.
“I‘m very proud of what the whole team has achieved. Being acquired by a company such as The Hut Group is a testament to the hard work we have all put in over the years building the ry.com.au brand,” says Patten. “I fully expect that the brand will go forward and play a big part in The Hut Group’s ambition to become the number one in health and beauty globally.”
The investment catapults THG into a high position for online beauty and retail in Australia, where the Group already owns and operates Skincarestore.com.au, which was acquired in May 2016. THG also ships into Australia from its other websites including Look Fantastic, My Protein, Grow Gorgeous and Mio Skincare.
“We are delighted at the acquisition of RY.com.au, a leading player in the growing Australian haircare and beauty market and a business that complements our existing beauty websites such as LookFantastic and SkinCareStore,” said founder and chief executive of The Hut Group, Matthew Moulding.
“At THG, we have a clear focus on health, beauty and technology and we are very proud that this most recent investment sees us become the number one online retailer for health and beauty in Australia. Crucially, it marks another step towards our goal of being the number one in health and beauty globally.”
THG expects to announce further significant investments in beauty before the end of the year.
THG and its in-house team design, develop and build bespoke proprietary technology that is used by hundreds of millions of people worldwide across 190 + countries. Part of the Northern Powerhouse near Manchester, THG operates over 140 profitable websites retailing premium, non-perishable FMCG products direct to consumers across the fast growing, global health and beauty markets.