Crew Clothing posts strong sales growth as it looks ahead to expansion
Crew Clothing has seen its full year sales climb by 40% to £82.7 million as it benefits from strong growth both online and in-store.
In the year to 26 December 2021, EBITDA was also up, rising by 80% to £16 million.
The lifestyle clothing brand has spent the last year growing its ecommerce business with continued investment in digital marketing to drive sales. It has also extended its brand reach through selected online partnerships with retailers such as John Lewis, Very and Next.
Crew Clothing chief executive David Butler said: “These are a robust set of results and underlines the strength of our omnichannel presence and unique brand appeal. Our strategy of selling exceptional quality clothing at reasonable price points is providing us with a growing core customer base in the UK that is capable of further expansion in the coming year despite the widespread difficulties across the retail sector.”
The company is continuing to sponsor a range of British sporting events to build customer engagement. These include partnerships with Williams Racing, Henley Royal Regatta, the Lawn Tennis Association, Exeter Chiefs, the Professional Cricketers’ Association, the Legends Tour and Rugbytots.
Butler added: “We are a well-established brand with a loyal and broad customer following who enjoy shopping both online and in store and want timeless, classic clothing that is high quality, yet accessible. We’ll spend the next year continue to strengthen our digital capabilities, partnerships and sponsorships, whilst also looking to grow our store estate.”
Crew said trading in its stores is gradually recovering to pre-pandemic levels. The company now has 100 shops across the UK with the majority situated in market towns or coastal locations.
Butler said: “We have a complementary store portfolio of prime sites, commuter locations and outlets and are not exposed to major city centres and expensive flagship sites. Our shops are located where our core customers live, and we’ve posted a resilient trading performance coming out of lockdown due to our strong brand following and people shopping closer to home.”
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