Record sales increase for online bathroom seller
Doncaster-headquartered online bathroom retailer, Victoria Plum, says its sales rose by a record 46% to £103m for the year ended 28 February 2021.
In addition, the business saw its EBITDA increase by 115% to £4.5m. Over the same period, the company grew its headcount from 349 to 398.
2021 marks Victoria Plum’s 20th year in business and one-and-a-half years since the company was acquired by Leeds-based private equity fund Endless.
During that time, Victoria Plum has continued its management-led turnaround and transformation strategy under the leadership of chief executive, Paul McClenaghan.
This includes launching a bathroom design and installation service in 2020, creating higher value transactions and enhanced customer relationships.
Victoria Plum also took the decision last year for its staff to permanently work remotely.
The only exceptions to this are the teams working in the company’s 275,000 sq ft distribution facility in Doncaster and across its nationwide delivery network.
McClenaghan said: “We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion.
“These latest record results validate our approach and provide us with the platform to progress our plans at pace.
“Elements of our results have benefitted from the speeding up of the structural shift to online retail throughout 2020.
“However, we were constantly evolving Victoria Plum as a pure play online retailer long before last year’s events happened and will continue to do so.”
Compared to the previous financial year, Victoria Plum’s website users increased by 165% to 23.2 million whilst its sessions rose 194% to more than 51 million.
McClenaghan continued: “We are confident we will continue to grow at speed. Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.
“In addition, the constant stream of valuable data and consumer insights we access and interpret enables us to quickly adapt our product offer to meet customers’ needs, keeping us ahead of the game.”