The Hut Group, the UK tech darling which sells beauty brands online, has upped its full-year sales guidance and revealed a string of new partnerships.
The firm, which also sells sports nutrition brands and licenses its technology to others, said it had “very strong performances” during Singles Day, Black Friday and Cyber Week.
It added that new active customers in November totalled over 1.7 million (74% up year on year), with almost 900,000 new customers in Cyber Week alone.
Full-year revenue growth for the year to December 31 is now expected to be between 38% and 40% higher, compared to the previous guidance of 30% to 33% growth.
Revenue is forecast to be between £1.57 billion to £1.6 billion.
The Hut Group, which floated at 500p per share in September and is led by founder Matthew Moulding, also announced a number of new direct-to-consumer partnerships within its ‘ingenuity’ division. That arm provides a direct to consumer digital service for brands, including hosting websites, creating content and translating sites for different countries.
It will now work with firms including clothing retailer Jack Wills and Vita Coco, the coconut water company.
