Fifty Shades of Grey is continuing to boost sales at Bath-based Lovehoney, with turnover increasing to £43m – up a whopping 53% from the previous figure of £28m – according to a report in the Bath Chronicle. Pre-tax profits have also increased at the firm, to £3.7m from the previous £2.1m. Staff levels are also up, from 120 to 167, following the launch of new French, German and Australian websites.
Co-owner Neal Slateford attributed the impressive figures to Lovehoney’s exclusive Fifty Shades of Grey licensed range, and he was quoted as saying: “We have enjoyed another record year – growing market share and attracting a significant number of new shoppers as the switch from High Street to online gathers pace. The continued international success of the Fifty Shades of Grey brand has helped to fuel international growth and we have made a number of structural changes to ensure the surge in sales is sustained. Mobile sales continues to rise rapidly and we have responded with key improvements to our website. Growth has been fuelled too by the increasing acceptance of sex toys as a great way to improve sexual happiness. We are continuing to explore new opportunities for licensing deals due to the success of Fifty Shades and previous celebrity collaborations.”
The most recent celebrity collaboration was with heavy metal band Motörhead, which resulted in a branded range of vibrators, and it recently unveiled reality TV star Marnie Simpson as the new face of its lingerie range.