E-Commerce tech firm on track for £50m turnover
The parent company of some of the UK’s leading homeware e-commerce platforms says it is on track to turnover £50m by 2022.
Staffordshire-based The Moot Group owns Olivia’s, the fastest growing premium homeware retailer in the country, and acquired competitor Houseology in the spring, along with further technology acquisitions.
The company plans to raise investment in early 2021 to further support its growth through new hires and an aggressive international expansion programme.
The Moot Group also licenses its technology platform to the likes of Rolls Royce and Sports Direct.
Alongside its homeware and furniture brands, The Moot Group boasts an annual recurring revenue of £3m from third party technology licenses for its customer acquisition technology and ecommerce tools.
Nick Moutter, founder of Olivia’s, said: “I’m in a fortunate position to say 2020 has been an exceptional year for The Moot Group – the acquisitions we made earlier in the year have accelerated growth across all of our companies, as well as our unique and innovative approach to marketing the group’s e-commerce brands.
“The next few years are looking very promising, and I hope our plans to recruit up to 50 members of staff over the next 12 months will provide some welcome positive news, in what is currently a very uncertain economy and jobs market. We already have investors lining up at the door to talk to us who are very excited about our expansion plans into international markets by the end of 2020. It’s definitely an exciting, and profitable, time to be part of The Moot Group.”
