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International push drives revenues at Lovehoney

Revenue was up 22% to £93m at online lingerie and sex toy retailer Lovehoney for the year ending 31 March 2018, driven by a focus on international expansion.

Pre-tax profits also grew by 22% to £11m, and there “growth across all Lovehoney territories”.

The company’s international push was helped by investment from Swiss private firm Telemos Capital, which bought a majority stake in Lovehoney in June.

Lovehoney used the investment to make enhancements to its website, and create geographically specific deals to meet demands. The retailer now has nine international websites in four languages. It also opened new distribution centres in Australia and the US.

Co-founder Richard Longhurst said: “Sales growth of more than two-thirds in two key territories of America and Australia reflects our focus on international expansion as a key part of our global strategy. After opening our own distribution centres in Australia and the US last year, we now are able to tailor offers and deals to meet local demand, further fuelling our international growth.”

Sales in Australia grew by £31.6m, and North America recorded a 67% year-on-year sales rise.

Lovehoney says sales have continued to grow at a similar rate in the nine months following the end of the 2017/18 financial year.

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