Sweaty Betty sees profits and sales up boosted by fitness trend
today Oct 4, 2017
Upmarket sportswear brand Sweaty Betty increased turnover by 16.2% to £40.6 million in the year to 25 December 2016 as it benefited from consumer’s increased focus on health and fitness.
The company, which sells sculpting activewear for as much as £95, is a favourite among aspirational yoga practitioners and runners.
Co-founder Simon Hill-Norton told The Evening Standard that the brand has managed to stay afloat amid challenging market conditions thanks to the health and fitness movement.
“The UK has been a tough retail market in 2017, but we have benefited from the increasing popularity of healthy living,” he said.
Pre-tax profit for the period amounted to £509,145, up from £272,617 as a result of increased margin on higher sales as well as increased demand in stores and online.
Sweaty Betty has stores in the UK, concessions in premium department stores such as Harrods and Bloomingdale’s and a growing online site, which serves the UK, US, Europe and Australia.
During the 12-month period, it opened four new stores in the UK, including the relocation of its Richmond store, and new locations in East Dulwich, City and Reigate.
“We are confident that our continued focus on providing a quality product and exceptional service will lead to a successful year in 2017. Accordingly, we plan to expand through both online growth and store openings in the UK,” said the company in a report filed at Companies House.
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