The Cotswold Firm (the “Firm”), the digitally-led premium handcrafted furnishings and homeware model, is happy to announce a buying and selling replace for the six months ending twenty fifth August 2024 (“H1” or the “Interval”), being the primary half of the Firm’s FY25 monetary 12 months.
Key highlights:
- Additional robust gross sales1 progress of 15% to £40.1m (H1 FY24: £35m), considerably forward of the house and furnishings market2, with gross sales up 80% on a five-year foundation and when in comparison with pre-Covid ranges
- 21% year-on-year enhance in lively clients reflecting the power of the Cotswold Firm model, extremely efficient digital advertising and marketing actions, and the advantages of the Firm’s multi-channel mannequin
- Gross margin elevated considerably over the Interval, reflecting the optimistic impacts of long-term investments in model and provide chain optimisation in addition to rising shopper demand for high-quality homewares and furnishings which are made to final
- ‘Wonderful’ score on Trustpilot maintained with new Swindon depot and Lichfield coaching centre opened to broaden and additional improve The Cotswold Residence Supply service
- 10th retail showroom opening in Stamford in early September with a number of additional openings within the pipeline
The Cotswold Firm continued its robust progress trajectory within the Interval, delivering gross sales progress of 15% to £40.1m (H1 FY24: £35m), considerably forward of the broader dwelling and furnishings market. This robust efficiency was supported by a 21% year-on-year enhance in lively clients, reflecting the power of the Cotswold Firm model, efficient digital advertising and marketing, and the optimistic affect of the Firm’s mannequin, which delivered a rise of 49% in multichannel clients.
E-commerce accounted for 80% of complete gross sales, with progress pushed by each buyer and conversion charges. Gross sales through The Cotswold Firm’s 9 retail showrooms elevated considerably pushed by new classes and footfall progress because of geo-targeted digital advertising and marketing. The Firm will open its 10th retail retailer in Stamford in early September after the profitable opening in Tub and with a number of extra within the pipeline. The corporate additionally has shops in Godalming, Tunbridge, Leamington, Harrogate, Chelmsford, Norwich, Canterbury and a flagship in Stow-on-the-Wold.
Gross order margins elevated considerably year-on-year, reflecting the power of The Cotswold Firm model, the optimistic affect of provide chain optimisation initiatives, and robust shopper demand for its timeless, high-quality homewares, that are made to final and include a 15-year furnishings assure.
Within the interval, best-selling merchandise have been from the Camille Oak vary – gross sales up 90% year-on-year – pushed by robust demand for the Camille Oak Rattan Again Chair (gross sales up 137% year-on-year) and Camille Oak 6 Drawer Chest (gross sales up 74% year-on-year). Robust progress was additionally seen throughout different ranges, together with Inglesham Whitewash Oak upholstery – the Group’s standout class – grew 92% year-on-year.
To assist its give attention to distinctive customer support, the Group lately opened its new depot in Swindon in addition to Cotswold Residence Supply Coaching Academy to broaden the supply of its high-quality, white-glove supply service.
Ralph Tucker, chief govt officer of The Cotswold Firm, mentioned: “The Cotswold Firm continues to go from power to power, with gross sales progress considerably outperforming broader market knowledge over the previous six months. We consider that is as soon as once more an important endorsement of our robust model, which is synonymous with nice high quality and timeless aesthetics, in addition to growing shopper demand for high-quality however inexpensive merchandise constructed to final.
“We have now a transparent technique to turn into one of many UK’s main premium homeware manufacturers. Our investments in our multi-channel proposition, geo-targeted digital advertising and marketing, and product and model to make sure we’ve got a best-in-class buyer proposition have all delivered significant outcomes. This offers us improbable momentum as we head into the busy Christmas interval, which can be enhanced by a number of thrilling new product launches, the opening of recent showrooms, and a model refresh supported by a nationwide TV promoting marketing campaign launching within the Autumn to introduce much more clients to the fun of our timeless and high-quality, made-to-last furnishings and homeware.”
