THE WHAT? Cult Beauty – owned by THG – co-founder Alexia Inge has resigned from the company, having emailed staff to say that she was ‘exhausted to the bone,’ according to The Sunday Times.
THE DETAILS Citing it as the ‘hardest decision’ of her life, the resignation comes after THG’s £275 million buy out of Cult Beauty.
According to reports, the culture had changed at Cult Beauty since its integration with THG, with one employee telling the Sunday Times, “It seems like every week someone is leaving. People are being driven to breaking point, ringing each other up and crying.”
THE WHY? Inge’s exit follows reports that brands aren’t getting paid as they used to be, while the integration of Cult Beauty’s operations and its warehouse caused redundancy’s.
It’s the latest hit for THG, with the company losing share price since floating on the London Stock Exchange in September 2020, while shareholders are said to have raised concerns over the company’s structure and future of THG Ingenuity.