AYBL, Lounge Underwear, ME+EM join ranks of UK's fastest-growing businesses
With annual sales rocketing, fledgling fashion companies AYBL, Lounge Underwear, Lucy & Yak, Manière De Voir, ME+EM, and Woolovers have been named among Britain’s 100 fastest-growing businesses.
They’ve all been included in a Sunday Times special 100 list for 2022 having seen their trading this year rocket from just a few years ago to their current impressive levels of success.
Topping the list is women’s sportswear brand AYBL, ranked first as the fastest-growing private business in Britain with sales of £23.5 million in its most recent financial year, representing growth of 359% a year over three years.
Launched in 2018 by brothers Reiss and Kris Edgerton, Gymshark co-founder Lewis Morgan invested in it last year before becoming its executive chairman.
In sixth place is Lounge Underwear, which posted annual sales growth of 214.98% over three years. Founded in 2015 by husband and wife team Daniel and Melanie Marsden, the intimates retailer had sales of £62.5 million in the year to Marc and is expanding its headcount this year to cope with the business boom.
Ethical fashion retailer Lucy & Yak is in 21st place with annual sales growth of 118.89% over three years. Launched by Lucy Greenwood and Chris Renwick in 2017, it offers vintage-inspired dungaree designs and a transparent supply chain. It has plans for four new stores this year across the UK.
Manière De Voir, meanwhile, took 50th spot with annual sales growth of 66.6% over three years, having posted sales of £30.2 million last year. Launched by footballer Reece Wabara, the Manchester-based fashion brand sells loungewear, dresses, bodysuits and jewellery and Gymshark’s Morgan, has a 17% stake in the firm.
Luxury fashion brand ME+EM posted annual sales growth of 61% over three years, to reach 57th place, founder Clare Hornby counts the Duchess of Cambridge and Claudia Winkleman among her fans, helping the firm to achieve sales of £46 million in the year to January and to raise £55 million this spring from investors to accelerate its expansion plans abroad.
Finally, Woolovers, ranked 74th, posted sales growth of 53.43% over three years. The D2C retailer began by selling cable-knit sweaters at country shows, but now sells its range of clothing and homewares across the UK and internationally. Now owned by private equity investor Verdane, it posted £56 million in sales in the year to March.
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