Sofas & Stuff maintains sales growth; invests in own factory

Bespoke furniture business Sofas & Stuff has reported another growth in sales as turnover climbed past £20m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 36.2% to £26.7m from £19.6m in 2021, further adding to its growth of 83% from £10.7m in 2020.

Sales were predominantly UK-based, up 36.4% from £19.5m to £26.6m, while EU sales rose 35.8% to £106,000 from £78,000. Outside the EU, revenues increased from £2,400 to £3,300.

Pre-tax profit resulted at £1.7m, down from £3.2m recorded the previous year.

Stated within its report, the company, which operates from 23 showrooms across the UK, said that during the period it took the major decision to further vertically integrate the business by establishing its own manufacturing facility in Preston.

“The plan was and is, to become the very best bespoke sofa maker in the UK,” the company said. “Everything we make is pretty much a one off, so this is a hard gig to pull off, but if our customers want to buy a unique product from us, that expresses as much about them as their clothes, then this is what we needed to achieve. This is very much a work in progress, but we are very much on the right path, and the benefits in the future will be huge.

“As part of our plan to become a national brand, new stores were opened in Nottingham, Leamington Spa and Walton-on-Thames in Surrey, and a new brand advertising campaign developed, all resulting in a 30%+ increase in turnover in the year.”

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