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Paul Hayes, CEO, Seasalt

Cornish lifestyle retailer Seasalt enjoyed its ninth consecutive year of 20%-plus year-on-year sales growth in 2017/18.

Paul hayes seasalt power 100 index

Paul hayes seasalt power 100 index

Turnover was up 23% to £51m in the year to 27 January 2018. Its gross margin rose from 51% to 55% thanks to strong customer demand and its commitment to full-price trading.

In September, Seasalt received a combined investment of £16m from Santander and investment company BGF, which will help support its growth. It plans to open 40 stores – it opened its 50th store in March, and will have 59 by the end of 2018 – and create 700 UK jobs over the next five years.

Hayes, who joined Seasalt in 2013, said the funding would give it the “flexibility and freedom” to innovate, and improve the customer experience across all channels.

 

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