Joules acquires Garden Trading
Joules has acquired online homewares retailer Garden Trading as part of plans to grow its customer base, broaden its product offering and strengthen its digital platform.
Garden Trading sells its home, garden and outdoor products to consumers through its own website and also to more than 1,000 stockists across the UK. In addition, the retailer has been a leading seller on the Friends of Joules digital marketplace since its launch in 2019.
Joules said it will continue to develop the Garden Trading brand and product range following the acquisition, although it hopes to benefit from the retailer’s design and sourcing strengths to develop a broader range of Joules-branded home, garden and outdoor products.
In the year to 30 November 2020, Garden Trading’s revenue grew by 40% year-on-year to £16.8 million.
Garden Trading’s founder and managing director Jon Holloway will remain with the business until the end of December 2021.
Nick Jones, chief executive of Joules, said : “We are delighted to announce the acquisition of Garden Trading, which is a fast-growing and highly complementary brand to Joules in the attractive home, garden & outdoor category. The acquisition will help to increase the Joules customer base, broaden our product offering and strengthen our digital platform, which are three of the group’s key strategic growth pillars.
“The Garden Trading brand shares similar design-led principles to Joules and, as has been demonstrated through its stand-out popularity on the Friends of Joules digital marketplace over the past 15 months, is highly relevant to our customers and their lifestyles. “
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