COMPANY FOCUSCOMPANY:FootasylumFOUNDED:Cheshire, 2005 Footasylum posted a 112% increase in pre-tax profits of £6 million which was up £2.8 million from the same period last year. It would be fair to say the Rochdale based retailer, Footasylum, has become a bit of a powerhouse over the last 5-10 years. Founded by the original co-founders of JD Sports back in 2005 by David Makin & later John Wardle with a single shop in Cheshire, Footasylum has grown to become a household name for all things tracksuits & trainers. Located in the majority of city centres, shopping malls & towns across the UK, Footasylum has pioneered influencer marketing with its social media channels working with everyone from top Man United players to regional Grime artists. After filing its latest financials for the year up to 27th January 2024, the Greater Manchester based sportswear & sneaker retailer posted a pre-tax profit of £6 million, a 112% increase from the same period from last year. Overall sales at Footasylum were up 7% to £320 million courtesy of a 15% increase in online sales of £135 million. On track for another successful year of record growth, Footasylum attributed the latest growth to the opening of new stores such as in the Lakeside shopping centre in Essex as well as the recent upsizing of existing stores. The question now everyone in the industry will be asking is when will Footasylum go public? Could a Footasylum IPO be on the cards for 2025? Be sure to keep posted at Sneaker Jobs for further updates. 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. Our performance was also supported by the success of our creative content channels, which now boast an astonishing 5.8 million followers. During the period, we also made strategic investments for future growth. We enhanced our technology to support our omnichannel customer journey, expanded our highly popular own brand portfolio, and continued our digital-first, bigger-and-better store expansion programme. With strong momentum across the business, and the proven success of our ambitious growth strategy, we are extremely optimistic about Footasylum’s future prospects. Nick Scott – Chief financial officer FootasylumSee alsoNews·October 8, 2024Footasylum Secures £35 Million Funding Package You can check out the latest job vacancies at Footasylum at Sneaker Jobs & also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
