London makeup specialist reports increase in sales after “challenging” 2020

A London cosmetics firm has introduced that it has seen sales increase in the primary three months of the yr following “vital challenges” in 2020.
Warpaint London, which owns W7 and Technic, reported that sales for the primary three months of 2021 have been 9 per cent forward of the identical interval in 2020, with will increase seen in all of the group’s geographic areas.
This comes as the corporate declares its full yr outcomes for 2020, which noticed income of £40.3m in comparison with 2019’s £49.3m, down by 18.26 per cent.
However, it additionally reported that it’s now debt free, with the remaining £0.3m of loans and contracts repaid in full this month, and money balances sitting at £5.8m.
Clive Garston, chairman of Warpaint London, commented: “2020 was a yr dominated by the Covid-19 pandemic.
“These have been unprecedented buying and selling situations, with the economic system and trade dealing with a few of its most important challenges ever.
“Warpaint entered the pandemic in strong well being, with a robust steadiness sheet and an agile administration crew able to coping with the challenges.
“I consider the group has weathered the pandemic storm properly and has proved its flexibility and resilience in coping with an unprecedented and unforeseeable state of affairs.
“During the yr we took the chance to reposition the enterprise to increase our deal with mainstream excessive avenue shops and to construct our on-line presence.
“We additionally labored to make sure that our product vary, pricing and buyer base provides us the very best alternative for future progress because the world recovers.
“I’m significantly happy to notice the progress we’ve made with the enlargement of the quantity and kind of UK retailers stocking the group’s merchandise and the expansion of our on-line presence throughout 2020, along with the more moderen roll out with Five Below in the USA.
“Trading improved in the second half of 2020 and we’re happy to report this development has continued into the primary quarter of 2021. I’m optimistic that these encouraging traits will proceed and that we’ve the correct technique in place to ship worthwhile future progress.”

Looking to advertise your product/service to SME companies in your area?

Find out how Bdaily may help →