Feelunique sales skyrocket on the back of Chinese growth

256
feelunique

Online beauty retailer Feelunique has posted skyrocketing growth in its annual financial results, driven by strong Christmas sales and huge Chinese growth.

In the 12 months to March 31 the retailer saw a 27 per cent year-on-year growth to £80 million, reportedly continuing this trend into the current financial year tracking 50 per cent growth.

Growth was boosted by a 32 per cent rise in sales between November and December year-on-year, selling a record 1.4 million products.

Following the launch of its Chinese operation in 2015, sales in the region also shot up, now accounting for 10 per cent of group sales compared to just two per cent a year prior.

Throughout the year Feelunique also saw average basket prices jump 20 per cent to £52, while growing its product offering by 17 per cent to 28,000 across 500 brands.

The retailer’s recent acquisition of French beauty brand The Beautyst also helped boost its online profile, seeing social media followers nearly double to 1.2 million.

READ MORE: Feelunique muscles into French beauty sector with The Beautyst acquisition

“The beauty market is experiencing a significant consumer shift to online purchasing,” chief executive Joel Palix said.

“Through Feelunique’s unrivalled product offering, coupled with our innovative use of technology, we are changing the way consumers experience buying beauty online and I am delighted that this is being reflected in our annualised sales which now exceed £100 million.

“Launching a Chinese language website in 2015 is also proving to be a strategic success. In a little under two years the region has grown to account for 10 per cent of group sales and is providing an excellent platform to satisfy Chinese demand for luxury and niche beauty brands.

“Looking ahead, we will seek to further consolidate our leading position in Europe’s key beauty markets as well as to grow our market share in Asia where we are working to enhance our operations to take advantage of the significant market opportunity.”

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here