Refy, the beauty brand co-launched by British model and entrepreneur Jess Hunt, has seen a significant surge in sales and profit.
The Manchester-based company, which was founded by Hunt and CEO Jenna Meek, reported a turnover of £40.3m for the year ending 31 August, 2024, as per the latest accounts submitted to Companies House, as reported by .
This figure marks an increase from the previous year's turnover of £24.8m.
In the º£½ÇÊÓƵ market alone, Refy's turnover rose from £10.4m to £13.6m over the year, while European turnover grew from £1.8m to £3m.
Globally, the brand experienced a substantial rise in turnover from £12.5m to £23.7m.
The financial statements also revealed that Refy's pre-tax profits climbed from £8.9m to £13.2m within the same period, with the workforce doubling from 48 to 94 employees.
Hunt and Meek, who each invested £60,000 to start Refy in 2020, were recently recognised on the Sunday Times Beauty Rich List.
Refy hails 'pivotal year' after 'phenomenal growth'
In a board-approved statement, Meek commented: "The past year has been one of phenomenal growth and strategic evolution for Refy."
She further stated: "Our 63 per cent increase in revenue underscores the impact of our customer-first philosophy and our relentless focus on creating products that resonate deeply with our audience."
Meek also highlighted: "Despite global challenges, we have successfully scaled our operations, expanded our market presence and built stronger connections with our customers."
Refy has expressed confidence in its trajectory, stating: "Refy is poised for sustained growth and innovation, driven by a focus on delivering exceptional products that redefine beauty standards."
The company further commented: "The financial year 2024 has been a pivotal year for Refy, defined by remarkable growth and significant strategic milestones."
It concluded with optimism: "Guided by a clear vision and supported by a passionate team, we are well prepared to adapt to the ever-changing beauty industry and continue delivering outstanding value to our stakeholders."
