Betterbathrooms eyes £100m turnover
BATHROOM retailer Betterbathrooms is set to create 100 jobs after securing further investment from the Business Growth Fund (BGF).
BGF has invested another £4m into the company after an initial £10m investment in July 2013.
Based in Wigan, with showrooms nationwide including Manchester and Warrington, Better Bathrooms is on course to achieve sales in excess of £60m this financial year, up from £31m in 2013 when BGF first invested in the company. With the additional investment, Better Bathrooms aims to achieve sales of £100m by 2018.
The business operates ten retail showrooms across the UK, including the most recent openings in Birmingham, Edinburgh & Cardiff. The Birmingham showroom is now the largest bathroom, tiles and lighting showroom in the UK.
Colin Stevens founded Better Bathrooms in 2001 at the age of 22. Today, the business employs more than 400 people and sells direct to consumers via its showrooms, online and telephone mail order catalogue.
Better Bathrooms also extends its product range to the trade sector, operating a popular Trade Scheme through a loyalty points system.
Colin Stevens, chief executive, said: “These developments mark an important step for the business as we look to add further scale to the business. Our long opening hours of up to 10pm, 7 days a week – and leading service levels with our own fleet dedicated two-man delivery – mean that we continue to take market share from all the major bathroom retail and DIY chains.
“With additional support from BGF funding, we can work towards strengthening our mission statement – to be better on every level.”
Ben Barker, investor of BGF added: “Colin has a clear vision for the future growth of Better Bathrooms, and the team has a huge amount of energy for scaling the business. We are happy to be providing the growth capital to support their plans.”
Better Bathrooms employs over 400 staff based in one of ten showrooms, a distribution hub in Didcot and Trade Counters in Leigh and Didcot or in one of its showrooms in Birmingham, Cardiff, Edinburgh, Manchester, Leicester, Romford, Slough, Warrington, Wigan, and York.
