Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Myprotein operator THG strikes deal with Frasers for consumer credit roll-out

Myprotein owner THG has announced a tie-up with retail giant Frasers Group (THG/PA)
Myprotein owner THG has announced a tie-up with retail giant Frasers Group (THG/PA)

Cult Beauty operator THG has announced a tie-up with retail giant Frasers Group, which will see millions of shoppers able to access buy now, pay later and loyalty rewards across its health and beauty websites.

THG, the online retail group behind brands Lookfantastic and Myprotein, also revealed it has clinched a deal to sell its luxury brand Coggles to Frasers.

The multi-year agreement will involve a tie-up of Frasers and THG’s technology platform Ingenuity.

Ingenuity, which is used by brands including Holland & Barrett and L’Oreal, is a system which works closely with warehouses to manage online sales.

As part of the deal, Frasers will bring its consumer credit and loyalty platform, Frasers Plus, to any brands using the Ingenuity system, including Myprotein, Lookfantastic and Cult Beauty.

Other brands using the Ingenuity tech will also have the option to offer it to their own customers.

Frasers Plus is a buy now, pay later option where shoppers can spread the cost of purchases over three months, without interest. Interest is then charged at a variable rate of 29.9%.

Frasers has already been offering the credit option for people shopping at some of its own brands, including House of Fraser, Sports Direct, and Flannels.

Frasers Group chief executive Michael Murray said it marks an “exciting step” in the company’s plan to launch the feature across more third-party platforms.

The deal will also see THG launch a range of Myprotein products in Sports Direct stores, including from its tie-up with fitness competition group Hyrox.

The companies did not reveal the value of the deal.

House of Fraser store closure
Frasers already offers its buy now, pay later product to people shopping at its own brands (Aaron Chown/PA)

Dan Coatsworth, an investment analyst for AJ Bell, said the partnership could be an opportunity for Frasers to “muscle in” on the buy, now pay later market, currently dominated by providers such as Klarna and PayPal.

“Having THG as a partner gives it a shop window to show off its skills and potentially encourage more shopkeepers to sign up,” he said.

“Rival retailer Next made £163 million profit from its credit offering over the past financial year, demonstrating the value of doing more than simply putting products on shelves and getting them into consumers’ homes.”

He said Frasers will make its money from the 29.9% annual interest which is charged to customers who do not clear the full balance after three months.

Meanwhile, THG said its sales continued to increase in recent months, having returned its revenues to growth at the end of last year.

But it said a major rebrand of its Myprotein range has led to some stock being temporarily unavailable, which has driven a decline in online sales compared with the previous year.

The new packaging for products, which include protein powder and bars, has launched in major retailers including Boots and WH Smith.