Fashion retailer Club L London is eyeing international expansion after its sales and workforce nearly tripled over two years.
The Manchester-based company reported a turnover of £44.4m for the 14 months ending 31 March, 2024, according to recent filings with Companies House, as reported by .
This surge in revenue follows a previous year's turnover of £29.5m and £15.7m the year before that. The firm also saw its staff numbers grow from 64 to 94 in the latest financial period, up from 35 employees in January 2022.
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Despite the impressive sales growth, Club L London experienced a slight decline in pre-tax profits, dropping from £3.6m to £3m.
The company attributed this dip to "poor consumer confidence" driven by "high and persistent inflation and a cost-of-living crisis".
Nevertheless, the directors remain optimistic, expecting pre-tax profits to exceed the levels seen in January 2023 by 2025. The business anticipates further growth both domestically and internationally.
The board's statement highlighted the brand's continued growth during the extended 14-month financial period, despite economic challenges: "The extended 14-month financial period... was a period of continued growth for the brand."
It also acknowledged the difficult economic environment: "This is despite a backdrop of poor consumer confidence caused by high and persistent inflation and a cost-of-living crisis."
Club L London stated: "The directors are confident that profit before tax will increase back to beyond prior year levels during 2025 following continued growth in the brand in the 海角视频 and internationally."