Home Estate Planning Footasylum hails ‘record-breaking’ year as sales pass £300m

Footasylum hails ‘record-breaking’ year as sales pass £300m

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Footasylum has hailed a “record-breaking” year which saw its sales pass the £300m mark.

The Rochdale-headquartered company has reported a revenue of £320m for the year to January 27, 2024, up from £298m.

Online sales made up 42 per cent of that total while Footasylum’s EBITDA increased by 38 per cent to £22m, an all-time high for the business.

In a statement, the company said its performance had been helped by a “close management of gross margin and operating costs”.

Footasylum is owned by German asset management company Aurelius Group, which bought it in 2022 after previous owner JD Sports was ordered to sell by the Competition and Markets Authority. 

Aurelius recently hit the headlines after buying The Body Shop, which entered administration earlier this month.

Barry Bown, executive chairman and CEO of Footasylum, said: “FY24 was an extremely busy and productive year for Footasylum.

“With the support of Aurelius, we have expanded Footasylum’s unique offering across the UK’s busiest high streets and shopping centres.

“We have also been successful in internationalising the brand by reaching new audiences  through our flagship Oxford Street store and by growing our non-UK online sales.

“In addition, FY24 also saw us perfect our store design and fit-out process, which will enable us to continue our seamless roll out of new and upsized stores as part of our wider omnichannel strategy.

“In the longer term, we expect this to include the expansion of our store network outside the UK. 

“Despite the fact that UK consumers are feeling the squeeze from continued inflation and higher interest costs, I am confident that Footasylum will keep on growing over the next 12 months.

“By continuing to identify the latest trends, and incubating new and leading fashion brands, Footasylum has a strategy that is highly effective and entirely consistent with the brand’s DNA.”

Tobias Klaiber, managing director at Aurelius Group, added: “We are delighted that Footasylum has achieved record results in its second financial year under our ownership.

“These numbers demonstrate that our growth and operational transformation initiatives are bearing fruit, and confirm Footasylum’s distinctive position in a challenging market environment.”

Footasylum’s full set of accounts are expected to be filed with Companies House later this year.

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