For the year to January 30, 2021, Cornish lifestyle brand Seasalt, reported online sales increase of 72 percent. The company said, sales through digital channels accounted for 67 percent of total revenue over the period and continue to represent the majority of revenue.
The company added that temporary shop closures enforced by Covid-19 throughout 2020 and in early 2021 caused Seasalt’s store sales to decline by 57 percent. Total sales for the year were 69.9 million pounds, down 7 percent on the previous year, while EBITDA was 6.6 million pounds, an increase of 50 percent.
Commenting on the update and outlook, Paul Hayes, Seasalt CEO, said in a statement: “We have seen the benefits of our digital transformation and can now genuinely call ourselves a digital-first brand. The excellent performance of our stores since they re-opened and growth with our strategic partners point to a bright future and demonstrate the resilience of the business.”
The company expects that driven by growth across all channels, total sales in the year ending January 29, 2022 will approach 100 million pounds, with 56 percent of sales now made online. In the current financial year, Seasalt has expanded its work with strategic partners including Next, Zalando and Amazon US. The brand launched online with M&S in April 2021 and in M&S stores from June 2021.