Seasalt, the UK fashion brand renowned for its connection to Cornwall, has once again exceeded expectations by achieving a remarkable 16% increase in revenue over the five-week Christmas period. This outstanding achievement sets a new record for the company and solidifies its continued success in the competitive fashion sector. In addition to this positive news, Seasalt has revealed its plans to venture into the international market by opening its first stores in North America later this year.

The impressive revenue figure for December encompasses sales from Seasalt’s physical stores, webstore, and marketplace partners. Despite the challenging conditions faced by brick-and-mortar fashion stores in the lead-up to Christmas, Seasalt managed to achieve a significant 17% increase in revenue through this channel. Online sales also performed admirably, showing an 11% rise compared to the previous year. These robust figures indicate the resilience of Seasalt’s sales channels in a difficult market environment.

Seasalt’s success is further enhanced by its partnership with prominent marketplaces such as M&S, Next, and Zalando, which experienced a substantial 32% increase in sales during the festive trading period. Jon Lewis, Seasalt’s Chief Trading Officer, expressed his delight at the strong performance across all three main sales channels, emphasizing that their balanced approach provides resilience and exceptional results even in challenging trade situations.

The company’s impressive Christmas performance has instilled confidence in Seasalt’s full-year sales forecast, which is expected to end in January 2024. The brand anticipates a 12.5% increase in sales, reaching a total of £135 million. Furthermore, Seasalt predicts that EBITDA (earnings before interest, taxes, depreciation, and amortization) will surpass £10 million, fueled by a 10% like-for-like growth through physical stores and a remarkable 39% growth through partnerships.

In the previous year, Seasalt achieved a 23% increase in revenue, amounting to £118 million, with physical store sales experiencing a 12% rise. EBITDA for that year exceeded £8.5 million, an improvement from the £7.9 million recorded in the previous year.

CEO Paul Hayes expressed his satisfaction with the company’s performance, particularly during the crucial festive trading weeks. Despite ongoing economic challenges, Seasalt has managed to build upon its previous years’ successes. Hayes also highlighted the upcoming year as a milestone for the brand as it plans to establish its first stores in North America. The early signs of progress from Seasalt’s international expansion efforts over the past year have already fueled confidence for the future.

Seasalt’s growth and resilience in the fashion industry, coupled with its foray into new markets, position the brand for sustained success. As the company enters its “milestone year,” Seasalt remains firmly committed to its Cornish heritage, attracting customers both at home and abroad.

Useful links:
1. Seasalt Official Website
2. M&S Official Website