Icelolly forecasts substantial growth thanks to investment

YORKSHIRE online holiday price comparison site Icelolly is forecasting substantial growth after embarking on a major investment programme.

Last year, the Icelolly.com website, which offers close to 100m holiday packages from over 50 UK-based tour operators, completed a £17m buyout, backed by investor Palatine Private Equity and now says with a new management team in place, its focus is to unlock the growth potential of the business.

Steve Wilson, chief marketing officer (a newly created board-level position) said the team is busy working on how it takes the already successful business, which has a turnover of more than £10m and a team of 60, and grow it into something substantial.

“Our ambition is to be a household brand and one of the top ten travel brands in the UK,” Wilson said.

Wilson said the top ten brands include Lastminute.com and British Airways.

“We are now working on how we take the company forward and how we have a relationship with other top brands but not lose sight of our current partners,” he added.

“I think we can be substantially bigger and with that can potentially grow staff numbers.”

Icelolly has invested £250,000 in a marketing campaign in London and £100,000 in brand research as it progresses its growth plans. Wilson added that thanks to its new website, the firm is seeing more people visit and has witnessed a “significant” number of new visitors and a higher conversion rate.

The company, which moved from Wyke in Bradford to an 8,000 sq ft office at Park Row House in Leeds city centre earlier this year, has enjoyed year-on-year growth since it was founded in 2005 and is expected to generate record turnover and profits in the current year. 

Wilson said: “Our biggest opportunity now is growing the brand. We get millions of visitors every month despite not being a household name just yet, so if we can become one, the growth of the business will be massive.

“The reason Palatine bought into us was because they saw the opportunity to grow this business into a considerable one and I am confident this can be achieved. The team at Palatine are very encouraged by the business and are keen to see good growth.”

Icelolly also trades as an online travel agent via a series of brands, as well as selling advertising space via its site traffic and email database. It has recently secured high profile partnerships with the Ministry of Sound and Missguided, and continues to work with ITV entertainment shows such as Saturday Night Take Away and Catchphrase. 

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