Cornish lifestyle brand Seasalt has described its year as “record-breaking”, as it reports a 10% increase in store sales with the number of UK locations topping 70.
For the year ending 27 January 2024, Seasalt saw overall sales increase by 12% to £132.6mn. Pre-tax profit hit £6.8mn, which was up from £470,681 the year before when it faced “significant” rises in inbound freight and container rates.
Seasalt has invested heavily in its operations and growing its bricks and mortar network. Recent openings including Meadowhall, Aberdeen, Trentham, Malvern, a pop-up store in Plymouth and a third Irish store in Kenmare. This takes the total number to 73, all of which remain profitable.
In February, there were reports that Seasalt was scouting locations in Covent Garden, Regent Street, Northcote Road in Battersea, Chelsea and Hampstead amongst others for its first London location.
Paul Hayes, CEO, Seasalt, said: “We’re delighted to build on the ongoing success of recent years, in the face of obvious external challenges and economic uncertainty.
“In fact, over the last five years, the group has more than doubled its turnover to £132.6mn. Last year was a tough year for retail businesses, but we weathered the impact to evidence record-breaking revenue growth for the business in these statutory accounts.
“We’ve now got our focus firmly set on the future as the year ahead is a significant one for us, with the launch of our first Seasalt stores in North America and continued expansion in our partner channels, at home and internationally.
“We have every confidence that we will realise our ambitious growth plans if not exceed expectations.”
Seasalt Cornwall was ranked in the Top100 of the tenth RetailX UK Top500 2024 report.
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