Cult Beauty operator THG has announced a tie-up with retail giant Frasers Group, which will see millions of shoppers able to access buy now, pay later and loyalty rewards across its health and beauty websites. THG, the online retail group behind brands Lookfantastic and Myprotein, also revealed it has clinched a deal to sell its luxury brand Coggles to Frasers. The multi-year agreement will involve a tie-up of Frasers and THG’s technology platform Ingenuity.
Ingenuity, which is used by brands including Holland & Barrett and L’Oreal, is a system which works closely with warehouses to manage online sales. As part of the deal, Frasers will bring its consumer credit and loyalty platform, Frasers Plus, to any brands using the Ingenuity system, including Myprotein, Lookfantastic and Cult Beauty. Other brands using the Ingenuity tech will also have the option to offer it to their own customers.
Frasers Plus is a buy now, pay later option where shoppers can spread the cost of purchases over three months, without interest. Interest is then charged at a variable rate of 29.9%.
Frasers has already been offering the credit option for people shopping at some of its own brands, including House of Fraser, Sports Direct, and Flannels. Frasers Group chief executive Michael Murray said it marks an “exciting step” in the company’s plan to launch the feature across more third-party platforms. The deal will also see THG launch a range of Myprotein products in Sports Direct stores, inclu.
