Online sales see Footasylum grow by 7%

Sports fashion retailer Footasylum has increased revenue by 7% to £320m (FY23: £298m), with a total of 42% coming from online sales.

Led by former JD Sports managing director Barry Bown, the business is backed by Aurelius.

Executive Chairman and CEO of Footasylum, Bown said: “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. 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.”

In unaudited numbers the company said EBITDA was up 38% to £22m (FY23: £16m), which it said represents “an all-time high”.

Tobias Klaiber, Managing Director at Aurelius Group, said: “These numbers demonstrate that our growth and operational transformation initiatives are bearing fruit, and confirm Footasylum’s distinctive position in a challenging market environment.”