Portfolio News

LDC portfolio company Joules celebrates biggest retail week in company history

The last week in November, Joules celebrated its biggest ever retail week since the company’s beginnings more than 25 years ago.

The landmark week included the opening of Joules’ 100th store in Dublin, as well as openings of two new stores in England: a brand new store in Meadowhall, Sheffield and a larger location in Harrogate.

Retail is a vital channel for Joules, and the brand’s retail estate is varied, encompassing market towns, metro sites, coastal and travel locations. These new store openings are part of Joules’ strategic national retail growth, whilst complimenting it’s ecommerce channel and strong wholesale presence.

These milestone openings follows the success of Joules’ 2014/15 financial results, which demonstrated the appetite both at home and internationally, for Joules’ products. Total revenue grew 22% to £117million, underlying profitability increased (EBITDA grew 18% to £10.7million) and UK revenue increased 17.5% across retail, online and wholesale business, particularly with John Lewis.

Tom Joule, Founder of Joules, commented: “We’re delighted to see the openings of three stores within a week. Our continued strong growth is testament to the strength of Joules as a lifestyle brand as well as the quality, design and appeal of our collections. The popularity and appetite for the brand across all product categories highlights the exciting growth potential for Joules as we continue to expand”.

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Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
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