Thg Considers Spinning Off Tech Platform As Myprotein Rebrand Weighs On Sales

## THG Considers Spinning Off Tech Platform as Myprotein Rebrand Weighs on Sales ### THG's Tech Platform Business THG has reportedly been considering spinning off its Ingenuity tech platform as part of a strategic review of the business. The news comes after the company recently rebranded its Myprotein division, which has seen a decline in sales growth. The Ingenuity platform provides a range of e-commerce and digital marketing services to third-party businesses. It has been a key driver of growth for THG in recent years, with revenue increasing by 47% in the first half of 2022. ### Myprotein Rebrand and Other Challenges THG rebranded its Myprotein division in September 2022, changing the name to Myprotein Nutrition. The move was intended to better reflect the company's focus on health and fitness. However, the rebrand has been met with some resistance from customers, who have complained about the new packaging and product formulations. In addition to the challenges with the Myprotein rebrand, THG has also been facing a number of other headwinds, including rising inflation and supply chain disruptions. As a result, the company has seen its share price fall by more than 80% over the past year. ### Potential Impact of Tech Platform Spin-Off Spinning off the Ingenuity tech platform would be a major strategic move for THG. It would allow the company to focus on its core e-commerce business and reduce its exposure to the increasingly competitive technology sector. The move could also create value for shareholders, as the Ingenuity platform is a valuable asset. Analysts estimate that the platform could be worth up to £2 billion. However, there are also risks associated with spinning off the tech platform. THG could lose a key source of revenue and growth if the platform is not successful as a standalone business. ### Conclusion THG's consideration of spinning off its tech platform is a sign of the challenges that the company is facing. The move could create value for shareholders but also carries some risks. It remains to be seen whether THG will ultimately proceed with the spin-off.