Outdoor living specialist invests in flagship retail store
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Fast-growing Moda Outdoor Furnishings, the Manchester-based specialist in premium outdoor furniture, has topped off another year of exceptional growth with the opening of its flagship store.
The company, backed by private equity investor Endless, has invested more than £500,000 in the new 7,000 sq ft, glass-fronted store in Old Trafford.
Reflecting Moda’s commitment to innovation and quality, the two-storey unit contains the UK’s first ‘sensory room’ furniture display area, which allows it to showcase its range of firepits and outdoor lighting – already popular items with online customers.
Located at the Castlemore Retail Park, at the crossroads of Chester Road and White City Drive, near to Old Trafford football ground, the store is just a short distance from the city centre, and also on one of the busiest commuter routes to the south of the city.
Founded by CEO Jonny Brierley in 2014, Moda has seen exceptional growth over the past six years. With annual sales expected to top £35m in the year ending this month, up from £24.5m in 2020, the company now employs 122 people across its Manchester headquarters and destination showrooms in Manchester, London, Cheltenham and Milton Keynes.
Moda is a digital-first business, with more than 70% of revenues coming from ecommerce and digitally assisted sales. However, further selected openings are planned for 2022, and Jonny is particularly proud to be investing in the company’s Northern heartland, given the high levels of UK retail closures over recent years.
He said: “We are thrilled to be investing in the new showroom, which complements our online offer perfectly and allows our customers to experience our full range of furniture and accessories in a stunning environment.
“It is so exciting to be leading the Moda business through such exceptional growth. The last 18 months has been incredibly challenging for everyone, compounded by significant delays in shipping and the increase in the cost of international freight.
“Despite, this, we have continued to invest significantly in our business and we have opened three new showroom locations, which reflects the appeal of outdoor living and our customers’ desire to maximise the benefits of their outdoor space, and opportunities to relax and socialise with friends and family.”
Brierley and his business partner, Vallan McCarthy, led an MBO of Moda from its previous owners in 2019 with backing from Endless.
Tom Jack, partner in Endless’s Manchester office, said: “The Moda team has already achieved so much in a short space of time, with a huge amount still to come. In addition to the new showroom openings the business has continued to invest in the supply chain to service demand with short lead times, has introduced a fantastic new contemporary range of furniture with all-weather fabrics to complement traditional rattan products, and has invested further in its own dedicated in-house fleet to ensure the best possible customer service, underlined by the recent £17m funding deal with Secure Trust Bank.”
2021 has been an outstanding year of investment and growth for Moda as it gained a ranking in the prestigious Sunday Times BDO Profit Track 100 for the first time, being placed 64th in the index of the UK’s 100 private companies with the fastest growing profits over their latest three years.