Crew Clothing invested online and in-store in a year in which its revenues grew by 40%. Now it has plans for international expansion.
The retail brand, ranked Top100 in RXUK Top500 research, turned over £82.7m in 2021. That’s 40% more than in 2020, and 22% ahead of pre-pandemic 2019. Earnings before interest, taxes and one-off costs (EBITDA) grew by 80% to £16m compared to last year, from £9.8m a year earlier.
During the year it opened 10 new shops, taking its total store estate to 100, while its online sales were 14% ahead of 2020, and 68% ahead of 2019. It started selling via John Lewis and targeted customers through sponsorships of events from the Henley Royal Regatta to the Legends Golf Tour.
In the future it plans to expand beyond the UK, and says Western Europe, the Middle East and Australia are all areas for potential growth.
Crew chief executive David Butler says: “Crew 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. I’m extremely proud of how far Crew has come – watch this space, there’s more on the horizon.”
The Crew Clothing Company was founded in the back of a Salcombe windsurfing shop in 1993, and today sells a range of coastal-inspired clothing, footwear and accessories for men, women and children online and through 100 shops around the UK.