Gymshark, End and Regatta amongst Britain's fastest-growing firms
Only a handful of fashion and accessories retailers have been included a ranking of Britain’s private companies with the fastest-growing profits.
Published on Thursday, the Sunday Times BDO Profit Track 100 highlighted companies such as luxury yacht builder Princess Yachts and travel website Loveholidays.
Coming in second place was Gymshark, the Solihull-based fitness and gymwear brand with more than 20 million social media followers. Founded in 2012, the company was featured for the second consecutive year, with annual profits growing by 152% in average over the past three years. Its latest profits hit £18m on sales of £103.2m, and the launch of its pop-up store in Los Angeles attracted 10-hour queues.
Reaching the 28th spot in the ranking was Sportshoes.com, a West Yorkshire running and fitness retailer stocking 12,000 products from brands including Nike, Adidas and Asics. Its profits have grown by an average of 82% over the past three years, with latest profits of £4.4m in the year ended in February.
End., the online menswear destination, ranked 49th with an annual profit growth of 71% over the past three years. Backed by private equity firm Index Ventures, it saw profits rise to £23m in 2018 from £16m a year earlier. The retailer ships up to 15,000 products a day and stocks more than 400 brands and designers.
Manchester-based outdoor brand Regatta and Scottish cashmere textiles manufacturer Johnstons of Elgin conclude the list of this year’s fastest-growing fashion companies. Regatta (number 62) reported profits of £20.4m in the last financial year, while Johnstons of Elgin (number 66) made £10.3m in profits.
BEAUTY SEES EXPLOSIVE GROWTH
British beauty retailers and manufacturers are having a good year, with Revolution Beauty, Beauty Bay, Tropic Skincare, 7th Heaven and Amelia Knight all making a strong contribution to their local economy.
Kent-based Revolution Beauty (3) launched its first Makeup Revolution product in 2014. Since then, the company’s products have proved so successful that Superdrug is currently a stockist and in 2017, US private equity firm TSG Consumer Partners took a minority stake. Its profits grew by an average of 137% over the last three years.
Fuelled by growing demand for ethical and eco-friendly products, Tropic Skincare ranked 21st after profits rose to £5.1m on sales of £22.6m. The skincare brand, backed by Lord Sugar, has recently opened new headquarters in Croydon, London and experienced annual profit growth of 85% over the past three years.
Finally, achieving the 91th spot was Amelia Knight, which supplies its own-brand cosmetics products to Primark. The company made profits of £4.1m in the year ended in December 2017.
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