Seasalt hails “record breaking” year for its stores
Seasalt has posted a strong increase in annual sales in what was a “record breaking” year for its stores.
In the 12 months to 27 January 2024, revenue increased by 12% to £133 million while EBITDA climbed to £11.7 million.
Stores sales rose by 10% as customers spent “significantly more” per visit. Trade was also boosted by several new store openings in places like Aberdeen, Malvern and Meadowhall, and the launch of Seasalt’s first franchise store in New Zealand.
During the year, the fashion brand grew its relationships with third party retailers, including Marks & Spencer, Next and Zalando, through a combination of online-only and physical stores. Partner sales accounted for 13% of group revenue which was 4% more than in the prior year.
Seasalt said its online business was impacted by the “high street bounce” but still managed to deliver modest growth in the year.
The brand is now looking forward to new store openings in the US and further international expansion.
Paul Hayes, chief executive of Seasalt Cornwall, said the brand had performed beyond expectation despite ongoing external challenges and economic uncertainty.
In a post on LinkedIn, he said: “I am aware of all the individual contributions that have gone into making this possible, and I would like to personally thank our outstanding team, customers, and partners for being part of our journey. I look forward with confidence to everything the future has to bring.”
