Updates

THG

January 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

THG has bought the brand and inventory of Biossance, a prestige skincare brand, for US$20m from US biotech Amyris, which had entered Chapter 11 bankruptcy. Biossance is stocked in >1600 stores globally including Sephora, Harrods, Space NK and Selfridges and has generated sales of US$300m since 2015. It generated US$2m in revenue across THG’s Lookfantastic retail site last year and although a small deal, it is a strong fit, building on THG’s own beauty portfolio, which includes Perricone MD and ESPA. Just as THG’s sales trend is consistently improving (Q1 -14%, Q2 -11%, Q3 -2%, September exit +5%), CEO Matthew Moulding has also employed a ‘Pac-Man defence’ against Kelso Group (KLSO; 3.35p), which had been pushing for a THG break-up, ...

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THG - Mulls IPO of beauty business or strategic stake sale (May 2024)

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THG - “Ecommerce in a box for global brands” - shares £1 below last year’s rejected bid (February 2023)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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