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By Reuters Staff 2 Min Read LONDON (Reuters) - British e-commerce company The Hut Group said on Wednesday that it would buy UK-based online beauty retailer Cult Beauty for 275 million pounds ($382.91 million). The company, which listed last year, also raised its guidance on its sales growth for 2021 to between 38% and 41% on a currency-adjusted basis, above its previous guidance of 30% to 35%. THG said Cult Beauty would add around 140 million pounds of net sales to its business in 2022. The company said it was making “good progress” on its Ingenuity collaboration agreement with SB Management Limited, a subsidiary of Japanese venture capital giant SoftBank Group Corp.

United kingdomCity ofAbhinav ramnarayanRachel armstrongThomson reuters trust principlesUsb managementHut groupSoftbank group corpUnited kingdom basedCult beautySoftbank groupThomson reuters trustஒன்றுபட்டது கிஂக்டம்நகரம் ஆஃப்ரேச்சல் ஆம்ஸ்ட்ராங்தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ்