Position last year: New entry
Oliver Bonas has enjoyed quiet but steady growth over the past few years, and now has almost 60 stores in the UK, mostly in the southeast of England.
Founder Olly Tress’s decision to shift the lifestyle and fashion retailer’s focus onto in-house designed product, a strategy he has invested further in this year, has paid off. Turnover grew 28% to £42.6m in 2015, its most recent results.
Also of note, given the brouhaha over the introduction of the compulsory living wage in April this year, is Tress’s stance on pay. Last year, Oliver Bonas became the first UK retailer to commit to pay all of his directly employed staff at least the voluntary living wage of £7.85/hour and £9.15/hour in London. Tress has since admitted the short-term costs were “considerable”, but insisted it would lead to happier staff – and therefore better sales.