Classic Football Shirts, the Greater Manchester-headquartered retailer supported by figures like Rob McElhenney, the TV star and co-owner of Wrexham, saw a significant sales increase in its latest fiscal year as it eyes further international expansion.
The company announced a turnover of £31.8 million for the 12 months up to 30 June, 2024, a notable rise from the £24.4 million recorded for the previous year, as reported by .
Despite this surge, newly filed accounts at Companies House reveal that pre-tax profits dropped from £5.4 million to £1.1 million within the same timeframe.
A statement from the board conveyed optimism: "The company continued with expansion plans during the year aided by improved availability of current season products, greater classic offering, as well as increasing the presence of physical stores in Europe and USA."
Acknowledging their market dominance, the board reported: "The company remains the market leader in its sector of the industry and this is demonstrated by a growth in revenue of 30 per cent year on year."
With an affirmative outlook, the directors remarked: "The directors remain pleased with the growth in the year and plan to continue expansion to meet the demand of Classic Football Shirts' growing customer base and to ultimately continue to fulfil our company purpose, vision and mission."
The financial details were expected to be lodged with Companies House by the end of March this year.
These results emerge as the first after The Chernin Group made a substantial $38.5m (£28.6m) investment in Classic Football Shirts in May of the preceding year.
The private equity firm had previously stated its intention to aid the company in expanding its geographical reach, particularly into the US market.
The latest accounts reveal that the business saw a rise in global revenue from £7.3m to £9.8m.
In the Ƶ, sales increased from £11.7m to £13.1m, while in the rest of Europe, they grew from £5.4m to £8.8m.
Classic Football Shirts was established by Doug Bierton and Matthew Dale in 2006 during their time at the University of Manchester.
The Chernin Group was the first outside investor in the company.
Among the private equity firm's notable exits are Twitter, now known as X, Pandora and The Athletic.
TV star and Wrexham co-owner Rob McElhenney was revealed as an investor a few months after The Chernin Group's investment was announced.
McElhenney was one of several backers brought together by The Chernin Group, including two-time World Cup winner Alex Morgan, former USMNT player and Fox Soccer analyst Stu Holden, and the investment arm of the Wasserman agency, Wasserman Ventures.
