// Sweaty Betty turnover rises 18% to £56.6m in the year to December 31, 2018
// It launched its wholesale business in the US this year
// Online sales accounted for more than 40% of total sales
Sweaty Betty has seen an 18 per cent year-on-year rise in turnover to £56.6 million for the year to December 31, 2018.
The British activewear retailer launched its wholesale business in the US this year, which saw it open 25 shop-in-shops in US department store chain Nordstrom.
Online sales accounted for more than 40 per cent of total sales thanks to an investment in its ecommerce and systems infrastructure.
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It also recorded a pre-tax loss of £710,753, which was down from a profit of £1.3 million.
Sweaty Betty has also launched with luxury platforms such as Browns and Farfetch, and has opened three standalone stores in the UK and 12 in the US since opening its first concession store in Selfridges back in 2006.
Other initiatives include promoting its managing director Julia Straus to chief executive in June, in a bid to work on digital and international expansion.
Straus took over from co-founder Simon Hill-Norton who became chairman.
Hill-Norton founded the label with his wife and creative chief executive Tamara Hill-Norton, in Notting Hill in 1998.
Sweaty Betty currently has over 60 stores worldwide and is planning to open its first store in Asia next month in an undisclosed location.