Victorian Plumbing is a fast-growing online bathroom retailer, with turnover inching up 0.2% to £269.4m in the year ending 30 September 2022 (FY2022).
Much of its previous growth was down to heavy investment in search engine optimisation, which has since boosted its online exposure. Television advertising has also increased the number of unique visitors to its site, with unique visitors increasing 15% to 2.59 million on average per month in FY2021.
The retailer floated during 2021 and raised almost £12m to cover the costs associated with its listing, however its £850m market capitalisation saw it become the largest company to list on the Alternative Investment Market. According to its IPO details, Victorian Plumbing has approximately 14% share of the UK’s £1.2bn market for sanitary-ware and accessories – stocking over 24,000 products.
It is currently looking to target customers better and improve its data segmentation. The bathroom specialist is also working with Google on automation and machine learning around search optimisation. A number of incubator projects are underway in-house, including an AR app and AI chat bot.
The UK accounts for the vast majority of revenue, but that is expected to change as managing director Stephnie Judge has ambitions to up the number of international sites it operates. Sales have been on a strong upward trajectory in recent years and profitability is robust against competitors.
Innovation rating: 2
