WoolOvers celebrates return to profit with Award
WoolOvers the Natural British lifestyle brand, is pleased to receive ‘Best Mature Market Brand 2019’ at the Direct Commerce Awards.
The Award comes on the back of a successful eighteen-month turnaround plan that has seen WoolOvers move away from a discounting, refocus on its natural heritage, and expand its product offering beyond colourful knitwear; to include all-natural loungewear, slippers, jersey and more.
The business saw strong growth in both UK Mail Order and Ecommerce (+13% year-on-year in the second half) by focussing on the Over 50’s Market with engaging content and pushing its ‘natural fibres’ messaging.
WoolOvers finalised accounts are expected to show a return to profit in the year ended March 2019, with an EBITDA of over £1m on sales of £15m.
With its entire range made from natural biodegradable fibres such as cashmere and wool, WoolOvers continues to position itself as the conscientious choice for fashion lifestyle shoppers as they become more aware of microfibre pollution from plastics such as polyester and acrylic.
In its 30th birthday year, the Company will further expand its natural product offering, including a new wovens range, change to paper packaging, and continue its mission to help stop plastic microfibres entering the ecosystem.
Mike Lester, Chief Executive Officer, commented:
“WoolOvers is hugely honoured to be recognised by the Direct Commerce Association as the Best Mature Market Brand 2019. It is a testament to our team’s continued hard work into turning the business around and re-establishing WoolOvers as a natural lifestyle brand. As we enter our 30th year of trading, the business is well-positioned to navigate an increasingly complex retail landscape.
Our colourful natural clothing and more has really resonated with our over 50’s customer, particularly given the increasing focus on the sustainability of man-made fibre garments, and the impact plastic microfibres are having on our ecosystem.”