Candle maker eyes £20m turnover
CUMBRIA-based home fragrance manufacturer Wax Lyrical is targeting a near 40% increase in turnover over the next two years.
The company, which employs 135 staff, should turnover £14.5m by the end of this year and is set to increase that to £20m by 2017, with the launch of new ranges and the development of a new home fragrance product.
Managing director Joanne Barber has signalled that improvements in productivity, reform of manufacturing techniques and upskilling of staff following a recent £1m investment in the factory, means the company will achieve this growth whilst maintaining current staffing levels.
Wax Lyrical has already launched a new Christmas gift range for 2015 which includes an advent calendar with a different tea light each day, culminating in a votive candle and a votive gift box containing twelve different candles.
New ranges have also been developed for Valentine’s Day, Mother’s Day and Easter. A garden range is being launched for spring/summer 2016 in anticipation of a barbeque summer, coinciding with the Olympics and Euro 2016.
The company’s in-house R&D laboratory has recently developed a new super-wax blend which gives Wax Lyrical’s candles a stronger fragrance and longer burn.
Barber said: “Our recent investment in the factory has allowed us to enter the seasonal gifting market in a serious way and is helping to drive improvements in productivity.
“We are in a really strong position to take Wax Lyrical to the next stage of growth.”