Online sex toy retailer Lovehoney reports that 2017/18 financial year profits were up 22% to £11 million, whilst sales increased 22% to £93 million.
All territories saw growth but stand outs were a £31.6 million increase in Australia and in North America a 67% rise year-on-year. Lovehoney Co-founder Richard Longhurst says: ‘’This year has been our biggest year to date, with record sales and profit which are both up by more than a fifth. Sales growth of more than two thirds in two key territories of America and Australia reflects our focus on international expansion as a key part of our global strategy.”
“After opening our own distribution centres in Australia and the US last year, we now are able to tailor offers and deals to meet local demand, further fuelling our international growth. Our aim is to be the world’s best known sexual wellbeing brand. We now have nine international websites in four languages served from three distribution centres. We are the ‘go to’ destination for people who want to discover a fun and fulfilling sex life.”