UK-founded beauty brand Refy has seen its sales and profit increase after a year of “phenomenal growth” in scaling operations and expanding to new markets.
Annual turnover increased 63% from £24.8m to £40.4m in the year to August 31. Pre-tax profit grew from £8.9m to £13.2m.
The beauty brand was set up in 2020 by Jess Hunt and Jenna Meek, and the group said it has seen “phenomenal growth” in the most recent financial year.
In the UK, Refy’s turnover jumped from £10.4m to £13.6m while in Europe, sales went from £1.8m to £3m.
Turnover for the business across other markets leapt from £12.5m to £23.7m.
The past year also saw Refy achieve “record-breaking” Black Friday sales, and it expanded its presence across the US and Europe. Its US partnership with Sephora drove “exceptional growth”
In terms of outlook, the group said it is “poised for sustained growth and innovation” and will be guided by “customer feedback and market insights” for its product development pipeline.
Chief executive and co-founder Jenna Meek said: “The past year has been one of phenomenal growth and strategic evolution for Refy Beauty.
“I am immensely proud of the resilience and determination our team has displayed in navigating an increasingly complex and competitive market environment. Our 63% increase in revenue underscores the impact of our customer-first philosophy and our relentless focus on creating products that resonate deeply with our audience.
“Despite global challenges, we have successfully scaled our operations, expanded our market presence, and built stronger connections with our customers.”
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