Crew Clothing enjoys strong trading in 2021
British lifestyle brand Crew Clothing has reported sustained growth for 2021 as it continued to invest in its retail stores. The privately held company that was founded in 1993 added 10 stores to its retail estate last year, as well as seeing continued e-commerce strength.
On Thursday, the company said that it saw turnover of £82.7 million last year, an increase of 40% compared to 2020. And it was also an increase of 22% versus the pre-pandemic period in 2019.
Meanwhile, EBITDA was £16 million, up 80% against 2020 and 64% compared to 2019.
As well as crediting its success to investments in physical stores, the company talked up its online operations, with e-commerce sales up 14% year-on-year and 68% on a two-year basis.
The company also said it saw a “successful first season of trade with John Lewis, a partner the brand launched with in June 2021”.
And its “surging engagement with its customer base has also accelerated further via its ongoing sponsorship programme, which includes a multitude of the UK’s most revered sporting institutions”.
These include Henley Royal Regatta, the Lawn Tennis Association, Williams Racing and the Legends Golf Tour.
And it called out Western Europe, the Middle East and Australia as growth regions it will be targeting in the future, although it didn’t put a timescale on this.
CEO David Butler said the brand “has shown remarkable resilience over the last few years, despite exceptionally tough trading conditions. As a brand we’re in a strong position – a clear and robust strategy has allowed us to deliver these results so far and we plan to continue to expand with a view to strengthen our position as a British high street leader”.
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