Mattress retailer Eve Sleep has continued its meteoric rise through its fourth quarter, seeing UK sales growth above expectations.
UK revenues for the first 11 months of the year were up 105 per cent, while international revenues are expected to be up over 180 per cent.
This drove overall revenues up 130 per cent year-on-year over the same period.
The online retailer attributed this success to its heavy investment in marketing, spending 64 per cent of revenues on marketing costs in the first half of 2017. This is expected to drop to 35 per cent in October.
Following a recent deal with German department store chain Karstadt, Eve Sleep is set to sell from 146 concessions Germany as well as the UK, with concessions in Debenhams and Fenwick.
“We continue to be in a period of acceleration with strong momentum across our 15 territories,” chief executive Jas Bagniewski said.
“Eve is making good progress towards its objective of achieving UK profitability in Q4 2018, demonstrated by the UK business now anticipated to report a maiden profit after marketing costs in Q4 this year, a significant improvement on the first half of the year.
“We look forward to continuing our expansion as we drive towards achieving our plans for 2018 and beyond.”
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