Cornish clothing brand Seasalt has recorded another strong trading year with significant progress in international growth and UK bricks-and-mortar store sales.
For the year ending February 1, 2025, Seasalt stores recorded a sales rise of 8% on the prior year, with growth in footfall contributing to like-for-like growth of 2% (on a 52-week basis), building on 9% the prior year.
Online revenues grew 8% year on year, which the group claims reflects its increased investment in digital marketing, alongside the positive impact of investments in international stores.
International sales now represent 11% of the group’s total revenue, up from 7% in the prior year and this incorporates the opening of Seasalt’s first US store on Cape Cod and their fourth Irish store in Wexford.
Overall, the group recorded revenues of £150m, up 13% year on year. This has grown by over £50m over the last three years and doubled over the last five.
Marketplace partnerships, with the likes of Marks & Spencer, Next and Zalando, made significant progress and third-party channels (including wholesale) were the fastest-growing channel in the year.
These now account for 24% of the group’s total revenue, up from 13% in the prior year.
Seasalt was recognised as one of Zalando’s fastest-growing brands during 2024, driving strong international growth in both new and existing European markets.
The group continued to invest in new Seasalt stores in the UK and opened stores in Glasgow, Rushden Lakes and Wexford, as well as relocating the store in Cribbs Causeway, Bristol.
Seasalt achieved B Corp certification in the year with a score of 100.2 vs a sector benchmark of 80.7, in recognition of the brand’s founding values.
Chief executive officer Paul Hayes said: “The trading period under review represents another strong year of revenue for Seasalt, up 13% year on year, representing growth across every channel.
“We set out with a long-standing ambition to expand internationally, including opening our first US store, which we successfully launched in September 2024, and we have continued to grow our store portfolio in the US, Ireland and here in the UK since.
“It was a milestone year in terms of our ESG commitments too, seeing us realise another ambition to achieve BCorp status, which we achieved with an outstanding score versus our sector average.
“As always, we are not content to rest on our laurels; despite ongoing global uncertainty and economic challenges, we are concentrating on our growth plans for the year ahead, with a particular focus on our partner channels where we see significant opportunity, along with expanding our own store portfolio in tandem.”
Group EBITDA was £11.m, representing a 5% increase (+£0.6m) on the previous year.
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