Holland & Barrett is aiming to reach £1bn in sales by 2020. This follows a turnover increase of 12% in the last year.
A consumer shift to healthy eating and raised awareness around allergies and intolerances has been boosting sales at the health goods retailer. In the 12 months to the end of September, sales grew to £573.5m, while earnings rose to £146m. Like-for-likes in the UK increased 10.4%, spurred by a significant growth in footfall of 8%.
“This year’s performance, especially our rapid growth overseas, underlines the fact that rising consumer interest in healthier living and wellness is by no means a UK or even eastern phenomenon,” said CEO of Holland & Barrett International, Peter Aldis.
Holland & Barret’s recent success is driving international expansion, where there is a strong demand for British goods.
“We are already in the top quartile of the UK’s fastest growing retailers and have the means to continue to invest in growth across not only across our UK and European network, but also in our very successful international franchise model.” Aldis added.
“Our experience is that the British heritage behind our brand gives us significant advantage in our sector, and overseas consumers, such as those in China, seem to prefer the quality and reliability of our products compared with local competitors.”
This year the British chain opened 56 new stores, bringing the total number to 1,071. The company, which is part of US health group NBTY, trades in 11 different countries including Kuwait, Malta, Singapore and China, where it has 34 franchise stores. In addition, the retailer has two platforms on the online shopping channel Tmall owned by Alibaba.
Although the business re-branded to ‘Holland & Barrett International’ earlier in 2015 to better reflect its global reach, performance in its home market remains very important given some 744 stores in the network are located in UK and Ireland.
Holland & Barrett will continue expansion next year and is currently in talks with a partner in India to open its first store in the country in the new year.