Footasylum posts strong FY24 trading results

Footasylum’ revenues for the full financial year increased by 7 percent to 319.5 million pounds, while online sales were up 15 percent to 134.9 million pounds and now account for 42.2 percent of total sales.

In March, the company appointed David Pujolar as CEO, who has previously worked at AW Lab, Adidas, Foot Locker and Tommy Hilfiger.

“We are delighted to report that FY24 has marked Footasylum’s best-ever financial performance. We achieved record revenues and profits, driven by double-digit growth in both wholesale and online sales,” said Nick Scott, Footasylum’s chief financial officer in a statement.

Review of Footasylum's full year results

Footasylum’s wholesale sales were up 87 percent to 16.8 million pounds and now account for 5.3 percent of total sales underpinned by Footasylum's portfolio of brands, which have driven early growth in international territories.

Womenswear sales increased by 16 percent and juniors sales by 14 percent supported by larger store footprints and brand extensions.

Underlying EBITDA for the year was up 41 percent to 22.4 million pounds, operating profit was up 61 percent to 10.4 million pounds and profit before tax increased by 112 percent to 6 million pounds.

Footasylum founded in 2005, is headquartered in Rochdale. The company was acquired by Aurelius in August 2022.

Commenting on the annual performance, Tobias Klaiber, managing director at Aurelius Operations Advisory, added: "We are particularly proud to see the strong management team thriving and positioning the company for further expansion, aligning with Footasylum’s strategy: transforming into a disruptive entertainment company and leading brand incubator."

Footasylum expands retail footprint in FY24

During the year under review, the company opened a 20,000 sq.ft Oxford Street store in September, an 11,000 sq.ft store in Birmingham Bullring in October, a 10,000 sq.ft store in Lakeside Shopping Centre (Essex) in September, a 7,000 sq.ft store in Westfield Stratford in August, a 6,000 sq.ft store in Atria Watford in October, and a 6,000 sq.ft store in Leicester’s Fosse Park in November.

Post period end, Footasylum opened a 7,750 sq.ft store at Leeds White Rose in March.

The company said in a release that its social media following grew by 1.4 million, reaching 5.8 million, driven by the success of the fourth series of Locked In, Footasylum’s own reality series, which garnered 37 million views and generated over two billion impressions across its platforms.