Savoir

Bed brand delivers another year of strong growth

British luxury bed brand Savoir Beds has reported another growth in both turnover and profit.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 25% to £12.6m from £10.1m in 2021, further adding to its growth of 18% from £8.6m in 2020.

Pre-tax profit resulted at £1.5m, up 15.3% compared to its profit of £1.3m recorded the previous year. This also marked another year of bottom line growth when 2020 profit stood at £768,000.

Stated within its report, the company said that gross margin was maintained at 67% due to the growth in sales and fading impact of the pandemic.

“Disruption caused by the pandemic diminished in 2022, although its impact was still felt in Asia, particularly China, as lockdowns and travel restrictions continued,” the company said.

“This is had an impact on visitors to other key markets in Europe and the US. The conflict in Ukraine caused economic headwinds and resulted in our decision to close Savoir’s showroom in Moscow. However, the market for luxury products remained strong and Savoir made good progress during the year.

“New product launches continued both in terms of design and a new core product, the first vegan certified bed comprising natural materials available. Named the No4 Reformer, the product maintains Savoir’s core craftmanship and believe in natural materials whilst meeting the needs of a growing consumer demand.”

During the period, its management team was strengthened with the appointment of Farrukh Khan as its new finance director, alongside Nic Alexandre as its new managing director.

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