Warpaint London, the company behind makeup brands W7 and Technic, has revealed a strong start to its financial year with sales up £10m following a deal with Superdrug.
The London-listed business has said its sales hit £46m in the six months to the end of June 30, 2024, up from £36m during the same period in 2023.
It said it expected the second half of the year to be even stronger due to Christmas gifting orders and the “group’s momentum”.
Chairman Clive Garston said: “Further progress continues to be made with expanding the group’s presence in larger retailers globally and the group has significant further opportunities to grow sales, both with new and existing customers.
“The group has a number of planned product roll outs to additional stores in the second half of the year and remains in active discussions with a number of UK and overseas retailers about stocking the group’s products.”
In 2023 the affordable makeup brand opened in 71 Superdrug sites and was stocked in a further 200 New Look sites following a launch in 2022.
The publicly-listed cosmetics chain also ramped up expansion in Europe, its largest sales region.
A further rollout with Superdrug is planned for July 2024. The plan is to launch in 63 more stores, bringing the number of Superdrug stores served to 134.