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Crew Clothing hails strong full year growth

Crew Clothing posted strong sales growth in 2021 with turnover increasing by 40% year-on-year to £82.7 million. In addition, turnover was up 22% on 2019 as… View Article

FASHION

Crew Clothing hails strong full year growth

Crew Clothing posted strong sales growth in 2021 with turnover increasing by 40% year-on-year to £82.7 million.

In addition, turnover was up 22% on 2019 as ecommerce sales grew by 14% versus 2020 and by 68% on a year earlier.

Meanwhile, EBITDA climbed by 80% to £16 million compared to 2020 and by 64% on 2019.

The lifestyle clothing company said it has seen sustained post-pandemic growth as it invests in its growing retail estate. In 2021, Crew added a further ten stores to its portfolio.

Crew chief executive David Butler said: “Crew has shown remarkable resilience over the last few years, despite exceptionally tough trading conditions. As a brand we’re in a strong position – a clear and robust strategy has allowed us to deliver these results so far and we plan to continue to expand with a view to strengthen our position as a British high street leader. I’m extremely proud of how far Crew has come – watch this space, there’s more on the horizon.”

The company has also reported a  successful first season of trade with John Lewis with whom it launched a brand partnership in June 2021. It has also been engaging with its customers through a sponsorship programme, which includes sporting institutions such as Henley Royal Regatta, the Lawn Tennis Association, Williams Racing and the Legends Golf Tour.

Looking forward, Crew said it will be looking to extend the success of the business beyond the UK, particularly in western Europe, the Middle East and Australia.

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