THG PLC Due Diligence

Run due diligence on THG PLC: check compliance and get alerts when suppliers or ownership change.

United Kingdom · owned by Independent (United Kingdom) · thg.com · 30 vendors

THG PLC is a global retailer and brand owner operating through two leading predominantly online consumer businesses: THG Beauty and THG Nutrition. THG Beauty operates prominent online platforms including Lookfantastic, Cult Beauty and Dermstore, while THG Nutrition is led by Myprotein, the world's largest online sports nutrition brand.

Resilience scores

Technology vendors

Insights

Last updated 2026-01-26 · revision 9

30 direct vendors, 218 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

4 in-scope frameworks identified; showing 3.

ISO 27001 (source) — No public evidence

THG operates global e-commerce platforms processing sensitive customer data and payment information, making an Information Security Management System (ISMS) highly relevant.

GDPR (source) — No public evidence

THG PLC is a UK-based company processing personal data of EU/EEA residents through their global e-commerce operations (THG Beauty and THG Nutrition).

SOC 2 (source) — No public evidence

As a major e-commerce company with global digital platforms, THG likely uses cloud services and processes customer data that would benefit from SOC2 compliance.

Financials

Three-year financials

Financial Resilience Score: 5.5/10

THG's financial resilience is a mixed picture, characterized by a strong liquidity position and revenue base, but undermined by persistent unprofitability and market skepticism. As of the end of FY 2023, THG maintained a robust liquidity position. The company reported cash and cash equivalents of approximately £472 million and had access to an undrawn Revolving Credit Facility (RCF) of £595 million, providing significant operational headroom. A key strategic goal has been to achieve positive free cash flow. In 2023, the company made significant progress, reporting positive cash flow from operating activities, a marked improvement from the cash burn seen in previous years. The company operates three distinct divisions across a global footprint, which provides a degree of diversification against downturns in any single product category or region. The primary risk is the company's inability to translate its large revenue base into statutory profit. Consistent, large-scale operating losses raise long-term questions about the sustainability of its business model without continuous cost-cutting or restructuring. While liquidity is strong, the company carries a notable debt load. Net debt is a key metric watched by investors, and servicing this debt can be a drag on profitability. Since its high-profile IPO in 2020, THG's share price has fallen dramatically. This reflects significant market concern regarding its corporate governance, the true valuation of its Ingenuity platform, and its path to sustainable profitability. The Beauty and Nutrition divisions are heavily reliant on consumer discretionary spending, making them vulnerable to economic downturns and inflationary pressures that squeeze household budgets.

Key strengths: Strong Liquidity, Improving Cash Flow, Diversified Revenue Base

Risk factors: Persistent Statutory Losses, High Leverage, Market Confidence, Dependence on Discretionary Spending

Revenue by geography

Revenue by product/service

Workforce by country

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