Superdrug soars on back of Love Island deal and new products
today Jul 3, 2018
UK beauty and healthy chain Superdrug is riding high on the back of its Love Island sponsorship with full-year profits and sales both rising and the company seeing “continued growth momentum” in major product categories.
In 2017, pre-tax profit rose 16% to £92.9 million, with earnings rising even faster than sales, which is always a pleasing position for a company to be in. Revenues rose 2.3% to £1.24 billion and UK comparable sales rose 2.5%. The company opened 22 new stores across the country during the year.
The AS Watson-owned chain also said it grew its market share to 32% in the important cosmetics category, although all categories contributed to the strong results.
Its sponsorship of hit TV show Love Island helped boost sales for the chain in bronzing, make-up and hairstyling. Love Island has become a pop culture phenomenon in Britain and brands associated with it have been reaping the rewards.
But new brands were also important for driving sales higher and Superdrug also called out the Revolution brand, which is inspired by social media, as being a major success.
Online sales were another bright spot with a 30% leap, helped by improved functionality on its webstore, a new smartphone app and a wider selection of fulfilment options.
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