Revenues climb at furniture and home accessories business
Retailer Nest has reported a 25% increase in direct-to-consumer sales in 2020 compared to the previous year, with international transactions accounting for a “significant” proportion of its profits.
Revenues have exceeded £4m for the year-to-date despite the pandemic and Brexit.
The luxury design business, which employs 36 people from its Sheffield-base, says its revenue exceeded predicted sales figures by more than £100,000 in the eight months of the financial year ending 31 December.
It largely attributes the rise to its strong online presence, which meant the business was well placed to manage the surge in first-time internet sales during the lockdown period, in addition to orders from its more established customer base.
As well as the consumer sales, an influx of commercial work has also contributed.
Business-to-business sales – which sees the firm deliver furniture, lighting and accessory design and installation services to property developers, interior designers, architects and electrical wholesalers – now accounts for 16% of revenue.
Many of the commercial sales are generated through the company’s new self-serve B2B website, Nest Contracts.
Ashlee Sanderson, sales manager, said: “We are absolutely delighted with the success of the Nest year-to-date.
“Especially during what has been such a turbulent and challenging time, not just for businesses but also for people in general.
“The loyalty we have seen from existing and new customers has been very warming for us as a small independent.
“We continue to remain optimistic for the last quarter of the financial year, despite further challenges, including Brexit.
“We’re confident as a team that we will keep growing our loyal customer base and delivering the very best in design to homes and businesses across both our UK and International clientele.”
Completed contract projects in recent months include the furnishing of the sales offices at The Urban Splash Park Hill and Cambridge House Pavilion projects; as well as the installation of mirrors in the 300-bedroom suites at the Hilton at Heathrow Airport.
The contracts team also provided furniture and lighting for the recently completed Monarch House project, which consists of luxury serviced apartments on London’s Kensington High Street.