Fast-growing The Hut Group secures $1billion funding package

“Our new property funding for our distribution warehouse in Poland, alongside this extension of our credit facilities, are further powerful additions for the Group and its business model as we continue to deliver on our ambitions of becoming the global digital leader across the Beauty and Wellbeing sector and drive forward our expansion plans.”

Plans for THG’s new £31m logistics and content creation studio next to Manchester Airport were recently approved.

The development, called ICON, will house The Hut Group’s (THG) new studio in a 168,000 sq ft warehouse as well as providing 104,000 sq ft of office space over four floors. The development is part of THG’s co-location at Manchester Airport which includes a new 280,000 sq ft office building at Airport City North.

Andrew Woods, Shanghai Pudong Development Bank Relationship Manager, said: “We are delighted to join The Hut Group’s core banking facility at this exciting time in the company’s development. This transaction is in line with the bank’s strategy of facilitating UK corporates with their trade flows to China and underlines our confidence in the THG management team.”