Online health & beauty retailer Feelunique.com has today revealed that it has more than doubled its profitability and increased its turnover by 63 per cent over the last year.
In the year to March 12th 2012 Feelunique recorded a record turnover of 26.7 million, an increase of 63 per cent year-on-year, while its EBITDA grew by a huge 120 per cent to £1.98 million.
Based on the Channel Island of Jersey, the e-tailer has grown rapidly since it was founded in 2005 by CEO Aaron Chatterley and Managing Director Richard Schiessl and has seen its year-on-year sales grow by around 150 per cent in its first four years of trading.
The health & beauty sector has proved resilient during the recent economic downturn and while growth may have slowed somewhat for the business over the last year, the increasing strength of online retail makes the retailer’s management confidence of significant progress in the coming year.
Chatterley commented: “I am delighted to report another successful year for feelunique.com.
“Our expansion plan is on track with further exciting developments for 2012. This includes the signing of some new exciting partnerships with premium global beauty brands which we will be announcing shortly.”
Feelunique predicts its turnover to rise again by 76 per cent in the year ending March 2013 to total £46.8 million, with international expansion seemingly part of the company’s plans.
According to research firm Euro Monitor the online beauty market in the UK more than doubled between 2005 and 2011, and Feelunique believes that the market is still hugely underdeveloped in terms of both female and male products.
Chatterley added: “We have… opened a new London office expanding the team to include leading Beauty journalist Newby Hands who joins us as Editorial Director.
“We have launched a new National TV Advertising campaign and have increased our media spend significantly.”