Business

Strong Sales Increase: Jellycat Benefits from Increased Online Demand

Jellycat recorded strong revenue and profit growth in 2023 and plans to distribute a dividend of 58 million pounds to its shareholders.

Eulerpool News Oct 2, 2024, 10:09 AM

According to recent company documents filed with Companies House, the demand for the brand's popular stuffed animals, including bestsellers such as the “Vivacious Aubergine Vampire” and “Brooke Otter,” significantly increased in the core markets of Europe, North America, and Asia. This led to strong business development in the year up to December 31. Jellycat describes the period as a phase of “rapid growth.”

To benefit from the good results, the company plans to pay its owners dividends amounting to 58 million pounds – a significant increase from the 9 million pounds in the previous year. The main shareholder is the parent company Jellycat Toy Company Limited, which is in turn owned by two partners of the offshore service provider R&H Jersey.

The company, founded in London in 1999 by brothers William and Thomas Gatacre, has evolved from a small trade show booth to an internationally sought-after provider. Today, Jellycat sells its plush toys, gifts, and accessories in 77 countries and is featured in "many of the most prestigious stores" worldwide, including Harrods, Selfridges, and Colette in Paris.

The prices for the stuffed animals vary greatly: While the 'Bashful Beige Bunny' is available from £9.95, particularly large specimens, like the 'Gigantic Sage Dragon,' cost up to £1,000 at Harrods. Another highlight of the brand was the 'Fuddlewuddle Puppy,' which quickly sold out after a public appearance by Princess Charlotte.

According to the information in the annual report, Jellycat's focus remains on investments and strategic planning for future growth. "We do not expect external factors to fundamentally change our long-term vision for the company, and we look to the future with optimism," said the company.

The successes are also thanks to the former co-founder William Gatacre, who retired at the beginning of last year. In an earlier interview with the MBS Group, Gatacre explained that the company had succeeded early on in building a loyal customer base. The first major successes then came with

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