Gear4Music.com announced record sales of £24.2m in the year to 28 February, as the company gears up for its next stage of growth.
The online musical instruments retailer is considering an initial public offering later this year and has appointed Panmure Gordon to investigate its strategic options.
Gear4music’s revenue has more than doubled over the past two years and the most recent figures were up 37 per cent, compared with £17.7m last year.
“2014 was an incredibly strong period for our business and we have entered 2015 in excellent shape,” said Andrew Wass, founder and managing director of Gear4music.
“The next phase of our growth plans will see us invest further in our online marketing initiatives while also developing our bespoke IT platform.”
The online music shop’s international sales – supported by 19 country specific websites across Europe – almost doubled last year as it progressed its overseas roll-out strategy, capitalising on its leading market position and the increasing popularity of online shopping.
Launched in 2003, Gear4music has almost 600,000 customers and sells more than 27,000 retail items.