Yahoo Finance JoJo Maman Bébé sales rise as shoppers embrace high street stores
Baby goods retailer JoJo Maman Bébé has cheered a “strong recovery of sales” coming out of the pandemic, boosted by customers wanting to return to high streets.
The company, which was founded in 1993 and initially a kitchen table start-up, today has 80 stores across the UK and Ireland selling baby clothes, toys and products such as changing mats as well as maternity wear. The Princess of Wales has previously worn the brand. The firm was among retailers that saw trading hurt by lockdowns.
But Gwynn Milligan, chief executive of the chain, which was last April snapped up by a joint venture that high street stalwart Next is part of, said there was a “robust performance” in the year to June 2022.
Accounts just filed show turnover improved 13% to £71 million. The firm, which has 12 London branches including in Battersea, Muswell Hill and Stoke Newington, said there was a strong store performance, delivering an increase of £11.7million as customers returned to the high street.
Online sales levelled out to represent 55% of the total business compared with 66% in the prior year. JoJo Maman Bebe added that international sales increased by 12%.
Revenue was also boosted from the launch of a personalised gift wrap service and new footwear collection, as well as growing the customer base.
JoJo Maman Bebe was acquired in 2022 by a joint venture established by investor Foxford Capital L5 and Next (respectively having 56% and 44% interests).
