Weird Fish, the British lifestyle clothing and accessories brand, today announces its results for the year ending 31st December 2024, achieving record revenues and providing a positive trading outlook for 2025.
Revenue rose 11.4% to £42.6 million while EBITDA increased 110% to £5.38 million. Gross profit climbed 27% to £27 million as the business focused on physical expansion and accelerated investment in third party platforms to help expand reach and brand awareness.
Commenting on the results, Weird Fish CEO David Butler, said: “We’ve delivered a record financial performance across key areas, with the pace of operational improvement continuing into 2025. Our strategic initiatives – focused on enhancing our brand, evolving our product ranges and providing consistent value for money – are clearly resonating with consumers, driving profitability and setting the foundation for further growth and expansion.”
The seven-percentage point increase in gross margin to 63% resulted from focusing on brand development and successfully reducing the levels of discounting as well as continued improvement on sourcing of products.
Trading in the new financial year has started well and is in line with management’s expectations. A key objective for 2025 will be continuing to improve gross margins via the introduction of enhanced and clearly defined product ranges and better co-ordinated marketing campaigns.
There will also be a focus on rebalancing the retailer’s multi-channel offering with digital channels remaining a key driver and contributor to future revenue, supported by retail sites. The business plans to open a open a further 10 retail sites and 15 concessions during the year, taking the total store portfolio to 35 sites across the UK.
“We have strengthened our retail presence across the UK with a strategically focused physical expansion opening six new retail stores and twenty-eight concessions during 2024. Looking ahead, we’ll continue to invest in both our own stores and concessions while maintaining a disciplined focus on intake margins to support long-term profitability,” Butler said.
2025 will see Weird Fish accelerate its third parties’ platform growth further by integrating with multiple marketplaces within the UK and internationally, through the launch of Global-e online as well as the appointment of new wholesale agents. Its UK wholesale growth will be driven by new partners and in supporting existing partners with product development and diversification relevant to their needs.
The Weird Fish brand proposition, which encompasses developing and marketing casual lifestyle clothing and accessories, has maintained a focus on employees wellbeing and sustainability during the year. The business continues to commit to paying at least the real living wage to all directly employed staff. This commitment was made in 2020 and continues. Its partnership with the RSPB has entered its 15th year and it recently teamed up with Newlife, which repurposes customer returns and end-of-line stock, to help reduce waste and support charitable work.
“The Company, whilst focused on growth, also ensures that sustainability remains at the heart of our values,” said Butler.
