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The Hut Group acquires Glossybox from rival Rocket Internet
August 14, 2017 / 12:46 PM / a month ago

The Hut Group acquires Glossybox from rival Rocket Internet

Aug 14 (Reuters) - The Hut Group said on Monday it has acquired Berlin-based cosmetics subscription service provider Glossybox from majority shareholders Rocket Internet and Kinnevik Online.

Glossybox is a box of cosmetic products which customers can subscribe to on either a rolling monthly or fixed term basis.

The terms of the deal were not disclosed.

Sky News reported earlier on Monday that The Hut Group would announce its takeover of Glossybox for an undisclosed price from Rocket Internet and Kinnevik Online.

The Hut Group adds Glossybox to its existing portfolio, that includes Beautybox, Grow Gorgeous and Lookfantastic.com. (Reporting by Justin George Varghese in Bengaluru; Editing by Greg Mahlich)

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