Hunter reports strong performance in 2018, with record revenues and exceptional EBITDA growth year-on-year. The results reflect significant growth in key markets, channels and product categories.
- Hunter achieved record revenues of £113.8m (+9%);
- Increased gross profit margin to 54.2% (+2.3 ppts YOY) and adjusted EBITDA for the year of £10.6m (+54% YoY);
- Strong growth in Hunter’s largest market, the US, which rose +13% YoY across all channels;
- Sales in Asia Pacific also grew +13% YoY, reflecting the continued benefit of Hunter taking direct control of its activities in the region in 2016 (Japanese sales increased +25% YoY in local currency);
- Sales outside key markets grew by 142% YoY, as the global appeal of the brand expands further;
- Hunter’s own e-commerce now accounts for 28% of total sales, delivering +19% YoY growth;
- Ongoing strategy of category diversification provided further strong sales growth of bag and apparel categories, with full-price sales +50% globally YoY;
- Global brand search has increased 50% YoY, fuelled in part by successful collaborations.
Vincent Wauters, chief executive officer, commented: “2018 represented a landmark year for the business and the ongoing delivery of our strategic vision. We have shown continued growth across key markets and channels, with anchors in North America, Europe and Asia. Our global e-commerce is thriving, we have an established multi-channel distribution platform and we have successfully diversified our product offering.
“The investments made in recent years to develop Hunter into a global lifestyle brand have enabled the company to generate sustainable global growth with strong operational leverage.
“As the results from 2018 demonstrate, with record revenues and increased profits in the context of a challenging retail environment, the brand is in outstanding health. We are excited with our progress and look forward to continuing to build the Hunter brand and business in 2019, the year in which we introduce strategic collaborations with brands as diverse as Stella McCartney and Peppa Pig. We are delivering against our long-term plan and vision to fulfil the brand’s very significant global potential.”
Founded in 1856, Hunter is a progressive British heritage brand renowned for its iconic Original boot and holds two Royal Warrants of Appointment to HM The Queen and HRH The Duke of Edinburgh. Funds managed by Searchlight Capital Partners L.P., a private investment firm operating in Europe and North America, are majority shareholders in the Company.