The e-commerce retailer is looking for £920m and a huge valuation from its stock market debut – but there are reasons to be wary
We are invited to view the imminent arrival on the London stock market of The Hut Group, a Manchester-based e-commerce retailer, as an uplifting story of smart technology, clever marketing and endless growth. Here’s a company that dodges Amazon’s thunderbolts and attracts some of the world’s biggest consumer companies – the likes of Nestlé and Procter & Gamble – to its “end-to-end” platform.
In a retail world dominated by shop closures and redundancies, The Hut Group sings a different tune. It claims the flotation will create more millionaires than any other listing of a British company, thanks to founder and chief executive Matthew Moulding’s long commitment to employee share ownership.
The notion that big brand owners will flock to use The Hut Group’s e-commerce platform has yet to be tested properly