Athleisure brand Aybl has marked an exceptional financial performance, characterised by a substantial increase in profits and sales.
The company’s strategic focus on quality products and excellent customer service is driving this remarkable growth, amid challenging economic conditions.
Record Financial Performance
Athleisure brand Aybl has reported a record-breaking surge in profits for its most recent fiscal year, indicating strong financial growth amidst challenging economic conditions. The company’s pre-tax profit leapt from £1.6 million to a remarkable £6.1 million for the year ending 31 March 2024. This significant boost was driven by an increased turnover, which rose from £29.2 million to £38.5 million, according to recently filed documents. This achievement is particularly noteworthy given the backdrop of a global economic downturn and a persistent cost-of-living crisis.
Geographical Sales Insights
The regional sales data offers insightful details into Aybl’s notable performance. Within the UK, turnover escalated from £9.4 million to £13.6 million, reflecting robust domestic demand. Meanwhile, European sales surged from £6.7 million to £12.7 million, showcasing the brand’s expanding influence across borders.
However, not all regions experienced growth. Sales in the rest of the world saw a slight dip, decreasing from £13 million to £12.1 million. This reduction underscores potential challenges that may arise from global market fluctuations.
Foundational Background and Company Growth
Established in 2018 by brothers Reiss and Kristian Edgerton, Aybl originated from a modest start in their spare room.
The brand now benefits from the support of Lewis Morgan, a co-founder of the esteemed Gymshark, bolstering its financial and strategic endeavours. The backing has emphasised the brand’s commitment to growth and quality. Despite economic adversities, Aybl has maintained a focus on delivering high-quality products paired with exceptional customer experiences.
A statement from the company’s board confirmed: “Aybl has continued to grow revenue strongly in the year, despite the backdrop of the worldwide economic downturn and the cost-of-living crisis.”
Customer Retention and Business Strategy
Aybl’s strategic approach appears to be yielding tangible results. By prioritising customer satisfaction and product value, the brand has managed to enhance its customer loyalty significantly.
Repeat orders have surged by 58%, compared to the previous year, highlighting the effectiveness of their customer-centric strategy. This growth is a testament to Aybl’s successful investment in its workforce and diverse suppliers.
Additionally, the company’s recent investments in warehouse efficiency and capacity demonstrate a forward-looking strategy aimed at sustaining growth and improving service delivery.
Future Outlook and Strategic Plans
Looking ahead, Aybl directors express optimism about future performance. They anticipate increased orders, customer numbers, and overall profitability in the coming year.
The company’s future plans include a prudent approach to product launches and a vigilant management of costs, ensuring sustained growth.
Strategically, Aybl’s focus remains on careful product innovation, customer satisfaction, and cost control, aiming to reinforce its market position amidst challenging economic landscapes.
Dividend Increase Reflects Success
Following the impressive profit figures, Aybl has announced a substantial dividend increase, reflecting the company’s successful performance.
The declared dividend escalated from £62,500 to £275,000, underscoring confidence in its financial health and future potential.
Conclusion of Financial Year
As Aybl closes another successful financial year, the brand’s achievements underline its strategic acumen and resilience.
Aybl’s financial success sets a solid foundation for future growth, showcasing its ability to navigate and thrive amidst economic challenges.
