Matt Moulding

Matt Moulding (February 1972)[1] is founder of The Hut Group.

Matt Moulding
Born
Matthew John Moulding

February 1972 (age 48)
Colne, Lancashire
NationalityBritish
OccupationBusinessman
Known forFounder of The Hut Group
Net worth £600 million (May, 2019)
Children4

Early life

Moulding was born in Burnley, Lancashire and attended Fisher More High School in Colne.[2]

Moulding studied industrial economics at the University of Nottingham before going on to qualify as a chartered accountant.[3][4] His father was a tarmac contractor and his mother was an antiques trader.[5]

He went on to work at the Caudwell Group, where he became finance director of the distribution business, working directly with John Caudwell.[3][5]

Career

In 2004, Moulding founded The Hut Group, originally inspired from buying a CD online.[3] He said that he recognised that selling online could be "fundamentally so much cheaper".[3]

After investing £500,000 in the company, it took the business three years to break even, initially selling CDs online from the Channel Islands to avoid VAT.[3][5] Moulding persuaded Sir Terry Leahy and Sir Stuart Rose to become early investors.[6][7]

Following the launch of the iPhone and rising in digital music streaming Moulding shifted his focus to selling other products online, and acquired a number of other e-commerce businesses, including IWantOneOfThose.com, Lookfantastic, MyProtein, Zavvi, and Illamasqua.[3] In 2014, KKR bought a 20 percent of the business.[6]

In 2013, it was reported that Moulding was considering floating the company.[8]

As of 2016, the company operates 100 e-commerce websites.[3] As of 2018, the company operated 166 websites.[5]

In 2018, it was announced that Moulding would be stepping down as CEO to become Executive Chairman.[9]

Personal life

Moulding lives in Northwich, and has four children.[6] He has said that he avoids international travel.[6] Moulding owns a Lamborghini Urus.[2]

In 2015, Moulding signed a letter supporting the Conservative Party in the 2015 general election.[10]

According to The Sunday Times Rich List in May 2019, he has a net worth of £600 million.[11] In an interview Moulding gave to The Sunday Times in July 2019, he said he earns "about £1 million" a year.[2]

He is a supporter of the Seashell Trust.[2]

References
  1. "Matthew John MOULDING - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 14 February 2019.
  2. Evans, Peter. "Online boss whose control is as tight as his T-shirt". www.thetimes.co.uk. Retrieved 24 July 2019.
  3. Begum, Shelina (11 December 2016). "How buying a CD online led to a £500m company". men. Retrieved 14 February 2019.
  4. "Matthew Moulding Takes The Executive Chair of The Hut Group". The Hut Group. 20 November 2018. Retrieved 14 February 2019.
  5. Shah, Oliver (10 June 2018). "The Hut Group: Northwich's answer to Estée Lauder". The Sunday Times. ISSN 0956-1382. Retrieved 14 February 2019.
  6. Anderson, Elizabeth (24 May 2015). "Hut Group boss happy to stay private". ISSN 0307-1235. Retrieved 14 February 2019.
  7. "Debrett's 500 List: Entrepreneurs". The Telegraph. 20 January 2017. ISSN 0307-1235. Retrieved 14 February 2019.
  8. Butler, Sarah (20 September 2013). "The Hut packs a punch and eyes up £250m flotation". The Guardian. ISSN 0261-3077. Retrieved 14 February 2019.
  9. "British tech 'unicorn' The Hut Group launches board shake-up". Sky News. Retrieved 14 February 2019.
  10. Watt, Holly; Mason, Rowena; Siddique, Haroon; Grierson, Jamie; Pegg, David (1 April 2015). "Donors and peers among signatories of pro-Tory business letter". The Guardian. ISSN 0261-3077. Retrieved 14 February 2019.
  11. Times, The Sunday (12 May 2019). "Rich List 2019: profiles 201-249=". ISSN 0140-0460. Retrieved 4 July 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.