Cult Beauty operator THG has announced a new tie-up with Frasers Group, to provide shoppers with new credit options and loyalty rewards across its health and beauty domains. 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. This multi-year deal will combine Frasers' expertise with THG's tech platform Ingenuity.
Ingenuity, which is used by many brands including Holland & Barrett and L'Oreal, works closely with warehouses to maximise 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 THG’s own online beauty and nutrition shops. Frasers Plus lets customers spread payments over three months for products interest-free.
Frasers Group chief executive Michael Murray, said this an "exciting step" for rolling out the scheme to more third-party platforms. Also, the deal will see Myprotein products in Sports Direct stores, with are owned by Frasers. THG has seen sales increase this year and also grown revenues.
But it said a major rebrand of its Myprotein range has led to some stock being temporarily unavailable, which has driven a decline in online sales compared with the previous year. The new packaging for products, which include protein powder and bars, has launched in major retailers including Boots and WH Smith..
