Online retailer and technology company The Hut Group (THG) is opening a store in the 100 King Street building in Manchester city centre.
THG acquired 12,000 sq ft of ground floor and basement space in the grade II-listed building, following a competitive bid process. The company said it will undertake a “significant” refurbishment programme. As part of the renovation, THG will convert the former Jamie’s Italian restaurant site into retail and experiential marketing space designed to showcase the group’s brands.
The group secured an extended group banking facility worth over $1bn (£766m) in April, to support major investment in beauty, technology and infrastructure. It turned down several takeover bids last year that valued the company at nearly £4bn. Sales at THG in 2018 were in excess of $1.2bn (£919m). Its ecommerce technology platform now trades in over 166 countries.
Matthew Moulding, founder and chief executive of The Hut Group, said: “THG is continuously looking at original ways to deliver the most engaging retail and wellbeing experience. The acquisition of the iconic 100 King Street site further expands our innovative marketing infrastructure.
“The development programme to create the world of THG will provide a new and innovative environment for customers and influencers to discover and fully experience our prestigious brands. In addition, while continuing to expand our international presence, as a Manchester-born business we’re committed to the North West and growing our employment base in the region.”