Monica Vinader posts record sales
Monica Vinader, the demi-fine luxury jewellery brand, has posted its best annual sales to date following a strong performance from its online business.
In the year to 31 July 2021, the company saw its sales rise by 25% to £57 million and its EBITDA increase to £7.3 million from a previous £0.1 million.
Meanwhile, sales in its US business rose by 22% in the year with trade largely driven by ecommerce sales.
Monica Vinader also attributed the growth to its wide geographical spread, which together with online, enabled it to meet consumer demand despite some stores being forced to close due to Covid-19 restrictions in the year.
The company said growth has further accelerated since shops reopened and is currently running at +45% in the current financial year up to and including the Christmas period.
Monica Vinader’s jewellery is sold in 70 countries and the brand counts Kendall Jenner, Gigi Hadid, Hailey Bieber, and The Duchess of Cambridge as some of its influential devotees. Run by Monica Vinader and her sister Gabriela from headquarters in Norfolk and London, the business was established in 2008 and recently launched its first homeware collection in collaboration with the ceramicist Florence St George.
In 2016, specialist investor Piper led a £20 million investment in Monica Vinader alongside US consumer specialist Winona Capital. In addition, former Boden chief executive Julian Granville was appointed as chairman.
Vinader said: “In an extremely challenging and uncertain couple of years for everyone, I am incredibly proud of our achievements in growing the business in a sustainable and responsible fashion. I am so grateful to our brilliant team for all their efforts and to our loyal community of customers for their tremendous support.”
Following a number of external approaches, the company recently appointed Houlihan Lokey as an advisor to explore strategic options for the next stage of its development.
Image courtesy of Monica Vinader
