In 2013 LDC invested £22million to support Joules’ expansion. Between FY2013 and FY2015, Joules increased revenue 50% to £116.4million driven primarily by its store roll-out (from 61 to 98), increased sales within its wholesale accounts and expansion of its e-commerce business. In the same period, international revenues grew 198% to £10.6million, underpinned by significant investments in the group’s infrastructure, including supply chain, IT, international sales support offices and people.
In May 2016 Joules announced its £140million listing on London’s AIM market. LDC has generated gross proceeds of £53million on its investment, representing a money multiple of 2.4x. Following the IPO, LDC has reinvested for a 7% holding.
LDC has been an important partner to Joules in recent years supporting the implementation of management's strategic plan which included significant investment in the infrastructure of the business and the retail store portfolio. We're now ideally placed to continue the brand's expansion by opening more stores in the UK and Ireland, growing the international business and increasing the product range for our loyal customers.Tom Joule, Founder and Chief Brand Officer, Joules.