Rochdale-based retailer, Footasylum, has announced record results, for its financial year, to the end of January.
The company has seen a 7% year-on-year increase in revenue, to £320m, while its EBITDA was also at a record high of £22m (2023: £16m). 42% of its total revenue was from online sales, that’s up 2% from 2023.
The fashion streetwear and sportswear company was acquired by Aurelius 2 years ago for £37.5m.
“FY24 was an extremely busy and productive year for Footasylum. With the support of Aurelius, we have expanded Footasylum’s unique offering across the UK’s busiest high streets and shopping centres,” said Barry Bown, Executive Chairman and CEO of Footasylum.
“We have also been successful in internationalising the brand by reaching new audiences through our flagship Oxford Street store and by growing our non-UK online sales. In addition, FY24 also saw us perfect our store design and fit-out process, which will enable us to continue our seamless roll out of new and upsized stores as part of our wider omnichannel strategy. In the longer term, we expect this to include the expansion of our store network outside the UK.
“Despite the fact that UK consumers are feeling the squeeze from continued inflation and higher interest costs, I am confident that Footasylum will keep on growing over the next 12 months. By continuing to identify the latest trends, and incubating new and leading fashion brands, Footasylum has a strategy that is highly effective and entirely consistent with the brand’s DNA.”
During the period, it opened a 20,000sq ft Oxford Street store, followed by new shops in Lakeside Shopping Centre, Birmingham Bullring, Watford, Westfield Stratford and Leicester’s Fosse Park.
The new stores are described as “next generation digitally-led” to encompass a “market-leading” omnichannel point-of-sale system, so customers can shop also online, while in store.
It has also seen growth across its social channels, including in excess of 2.7m Youtube subscribers.
“We are delighted that Footasylum has achieved record results in its second financial year under our ownership. These numbers demonstrate that our growth and operational transformation initiatives are bearing fruit, and confirm Footasylum’s distinctive position in a challenging market environment,” added Tobias Klaiber, Managing Director at AURELIUS Group.
