|
(Alliance News) - Suppliers of beauty products are restricting the stock they send to online retailer THG PLC over concerns about aggressive discounting, the Telegraph reported on Saturday.
The newspaper said Dermologica, owned by Unilever PLC, is among the brands that have reduced supplies to THG to protect their pricing. The Telegraph didn't cite a source for the information, and it said Unilever declined to comment.
However, the Telegraph said an industry source confirmed that other suppliers were taking similar action against THG websites such as Lookfantastic.
A THG spokesman told the Telegraph: "At Lookfantastic we are proud of our strong and close working partnerships we have across all of our supply base. We work together with our partners to ensure we have the best products available and provide great value for all of our customers."
https://www.telegraph.co.uk/business/2022/02/19/matt-mouldings-thg-faces-ugly-row-beauty-discounting/
THG has been under pressure from investors due to the poor performance of its shares since listing in September of 2020. The stock price has fallen to 113.40 pence as of Friday from its initial public offering price of 500p.
By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
