Hobbycraft is the UK’s leading specialist retailer of art and craft products. It offers a range of more than 20,000 products catering for 250 different crafts and hobbies, and has turned its 90-plus superstores into crafting destinations with classes and demonstrations to engage with customers and emphasise its specialist credentials.
It was acquired by Bridgepoint back in 2010, with a five-year transformation plan put in place by the private equity group to support ambitious multichannel growth plans. This included major investment in overhauling its systems and the creation of an integrated distribution centre in the Midlands.
Hobbycraft has a fully responsive website, but is continuing to make improvements in areas such as checkout and fulfilment in a bid to grow online to 20% of sales. Personalisation is also a current focus, driven by a massive push on its Hobbycraft Club loyalty scheme, which has more than 3 million members.
In addition to investment in infrastructure, the retailer has also invested heavily in reducing prices over the past few years to make it more competitive with the non-specialist competition.
Hobbycraft sales and profits slumped due to coronavirus-related store closures, although trading has improved since April reopening.
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Hobbycraft recorded an adjusted EBITDA of 21.9% from £12.2m to £14.8m in the full year to February 16.
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