Furniture specialist OKA saw a 17 per cent increase in revenue in its end-of-year financial results for 2011, it has been announced today.
According to the retailer, EBITDA rose 53 per cent on 2010, standing at £889, 809 despite the ongoing difficulties facing the homewares sector.
OKA believes that these strong results are thanks to directors’ work to ensure that stock purchasing is streamlined in order to maintain high quality and customer demand.
Annabel Astor, Co-Founder and CEO of OKA, explained: “It has always been a priority of ours to pay careful attention to our customers’ needs and adapt the business accordingly, so it is extremely satisfying to see the OKA brand go from strength to strength.”
As the specialist stores saw retail sales increase 12 per cent, it continues to look for a flagship work run in addition to its Chelsea Flagship and the revamped Froxfield unit, which became a ‘Country Flagship’ last year.
Last month, the retailer announced plans for international expansion following a deal with Hong Kong company Li & Fung subsidiary LF Products, which will see OKA launch its products in high-end department stores across Asia, the Middle East and Europe.
Astor, who has introduced a bonus scheme allowing employees to share the company’s profits, commented: “Whilst we remain cautiously optimistic for the year ahead, we are delighted that we are now able to take the OKA brand out to an international audience through the global licensing deal with LF Products.
“We will look to improve on the success of 2011.”