Toys and gadget etailer Firebox has said it plans to double its business in the next three years after widening its offer from ‘boys’ toys’ to attract a wider customer base.
Firebox managing director Christian Robinson said the retailer had a good year against a “tough backdrop”, with sales hitting £12.7m in the year to January 31, up from £11.4m the year before.
Pre-tax profits also passed the £1m mark, following a small loss made by the etailer last year.
“The biggest fundamental shift for us is moving away from the gadgets and boys’ toys niche. I want Firebox to be the destination for unique gifts for all demographics,” said Robinson.
He added: “Our next landmark is to get to over £20m turnover. I am confident we can double the business in the next three years. Moving out of our niche means we have been able to unlock potential.”
Trading has continued to be strong this year, with orders up 30% in March and April. “We are positive about our growth for the year,” said Robinson, adding that one focus would be to explore new product categories.
Among its best-sellers last year was the blanket with arms, the Slanket, a more female-oriented gift. “The old Firebox would have never sold a product like that five years ago,” said Robinson.
Firebox plans to follow other etailers in setting up a pop-up shop, but Robinson said this would not be a precursor to a high street roll-out.
He added that Firebox would invest “significantly more” in its marketing activity this year with more TV advertising.
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