WOLF & BADGER CONTINUES TO GROW REVENUE WITH ITS TECHNOLOGY-LED BUSINESS MODEL AND GLOBAL REACH, DESPITE A TURBULENT 2020 FOR RETAIL
LONDON, Jan. 19, 2021 /PRNewswire/ -- JANUARY 2020: A consistent rise in overall global sales and strong performance from its award winning online platform secured Wolf & Badger another year of growing full-year revenues and record sales figures in 2020. Despite its Kings Cross flagship in London and New York City location temporarily closing for prolonged periods throughout the year due to the COVID-19 pandemic the retailer expects overall revenue growth of 79.1%.
With 253,902 items sold and14.7m visitors to the online retail platform last year, 109,779 of which were new customers, the innovative multi-channel retailer achieved an increase in online sales of 92%. The business generated£19.1m / $26.1m in online sales in 2020.
Mirroring the climate, categories that performed well include lingerie and nightwear, up 625% compared to 2019 and blankets and throws which drove 556% more sales revenue than the previous year. 81 of the designers stocked on Wolf & Badger diversified their ranges to include face coverings; the majority of which were created using material offcuts to further eliminate waste in line with their sustainable credentials. A total of 9,786 face masks were sold during 2020.
Active brands utilising Wolf & Badger to reach a global customer base reached a record high in the year, increasing by 93.6% from 564 in December 2019 to 1,092 in December 2020. New brands joining the platform have come from 56 different countries across the globe, including Mexico, Norway, Ecuador, Ghana and Lebanon, many of which were experiencing disruption from other distribution channels.
To support an increased global focus, the business successfully launched further internationalisation capabilities to its ever-growing online platform in May. The e-commerce site now facilitates multi-currency support along with homogenised size variant management to seamlessly serve customers worldwide. Further, through its partnership with DHL and despite Brexit, the business now also provides duties and taxes inclusive shipping for all customers in the UK, EU, Australia, US & Canada regardless of where in the world each supplier is based. This has eased the purchase journey for consumers, and further enabled smaller brands to seamlessly sell cross-border hassle-free. In turn, this has enabled Wolf & Badger to grow significantly in new markets resulting in US sales up 144%, Australian sales up 1,048% and Canadian sales up 414%, vs 2019. Overall, international customers accounted for 46% of sales in 2020.
Fulfilling its mission to provide the leading platform for independent designers to thrive, Wolf & Badger offers a curated selection of the world's best independent brands, with a focus on individual and sustainable products from ethical designers. 2021 will see further growth from initiatives to add additional features and functionality to the wolfandbadger.com website as well as developing more international markets to reinforce and cement its positioning as the leading retail technology platform for independent brands worldwide.
About Wolf & Badger
Wolf & Badger is a global multi-channel retailer founded in 2010 by the Graham brothers - George Graham, CEO and Henry Graham, Creative Director. Through its technology-led multi-channel business model, it connects customers internationally with over 1000 brands across fashion, accessories, homeware and beauty verticals. The business has an exclusive focus on ethical, unique and independent brands. It operates stores in New York and London, as well as its award-winning online retail destination: www.wolfandbadger.com
UK: Coal Drops Yard, Stable St, London, N1C 4DQ
US: 95 Grand Street, New York, NY, 10013
IG: @wolfandbadger Facebook: facebook.com/wolfandbadger Twitter: @wolfandbadger
