Luxury homewares brand Oka has reported flat sales and narrowing losses for the year, with its chief executive highlighting the “resilience” of the premium end of the home market.
For the 12 months to the end of June 2025, Oka reported a slight dip in sales to £36.8m and pre-tax losses of £7.9m, largely due to “exceptional costs and non-cash interest expenses”.
The losses narrowed compared to the previous year, which the retailer said was down to “a significant reduction in overhead costs and a refinancing exercise, which had helped to lower debt charges”.
The brand has recently launched its first concession stores, with more planned in the coming 12 months to “make its brand more accessible in more affluent areas” of the UK outside of London and the South East.
Oka said while “rising pressures for consumers were impacting discretionary spending overall”, the premium end of the homewares market was “well insulated” thanks to the “underlying finances of its core customer base, helped by resilient property prices”.
Chief executive Mark Saunders added: “While higher mortgage costs and other cost-of-living pressures have impacted the general home interiors market, the premium segment has proven far more resilient to date. One factor is house transactions and prices in the £1m-plus bracket holding up better, especially in traditionally affluent towns, prime commuter areas and coastal areas, where our most-active customers live.
“The same conditions have also led to a growing trend where younger homeowners are buying fewer, but higher-quality pieces, which is where our proposition plays well. Pieces that are made to last and loved for years, using ethically sourced materials and made by independent artisans who preserve traditional craftsmanship.
“Looking ahead, we’re continuing to scale our UK presence through an expanding showroom and concession network as well as online, where a growing number of our customers are transacting, and continuing to extend our brand into adjacent categories.”
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