Supreme reports 192 per cent revenue boom in sports and wellness after acquisitions
Maker of consumer goods such as vaping brand 88Vape, Supreme reported a revenue increase of nine per cent this morning to £61.1m.
This was due to organic revenue growth in vaping of 13 per cent, and a sports nutrition and wellness category growth of 192 per cent.
The latter is attributed to Supreme’s acquisition of Sci-MX, a well-known sports nutrition brand, and the launch of Sealions in July, the Group’s first digital-only vitamins brand, and vitamins retail brand, Millions & Millions, in September, with Davina McCall as brand ambassador.
The firm also acquired Vendek, a leading batteries and lighting distributor based in Ireland.
The manufacturer, distributor and brand owner successfully began servicing new customer mandates including Sainsbury’s and McColl’s during this half year.
Sandy Chadha, chief exec, commented: “The combination of Supreme’s extensive retail relationships combined with our high volume, great value product proposition continued to underpin our strong profit performance in the first six months of trading in the current financial year.”
“Our market-leading Vaping category, alongside our high growth Sports Nutrition & Wellness division, continue to outperform their respective markets – further demonstrating our ability to attract and maintain consumer demand.”
“The second half of the current financial year has started well and our established business model, alongside our diverse product portfolio, provides the Board with confidence in the Group delivering a good performance in the second half and beyond”, she concluded.
Looking forward, the company remains confident in the future growth in the medium- to long-term, and has consciously invested in additional stock of key lines and raw materials to provide further shelter from any potential supply chain disruption in 2022.