Seasalt's international revenue increases despite US store closures

Cornish clothing brand Seasalt has delivered growth across its international business, despite the closure of its four standalone US stores. International revenues increased by £5 million to account for 15% of total revenues in the year to 31 January 2026, up from 11% the previous year.

Seasalt entered the US market in 2024 through retail partnership with Nordstrom and Bloomingdale's, before trialling four standalone locations. Two years later, the brand confirmed that it was closing all four stores by 17 May 2026, after the financial year had ended, in order to refocus on its wholesale channel strategy. 

"We plan to grow our portfolio of partners in the US and Europe in the second half of this year, and we are investing accordingly in this area of the business," a Seasalt spokesperson said when confirming the closures.

Third-party retail channels have become increasingly central to the brand's broader strategy and now account for 25% of the brand's revenue, playing a particularly strong role internationally. In the UK, existing wholesale partners include Marks & Spencer and NEXT, while Seasalt was named by Zalando as among the fastest-growing brands on its platform in 2024.

Over the financial year turnover dipped slightly to £148.3 million, down from £149.3 million the year before, but profitability improved: EBITDA rose 1.9% to £12.1 million, its strongest performance to date, while operating profit before non-recurring items grew 3.9% to £8 million.

Gross margin held steady at 54.5%. Seasalt attributed the results to "the resilience of its multichannel business model, delivering stable revenues and consistent gross margins", pointing to disciplined cost control and operational efficiency, alongside improved marketing effectiveness in its online channel, which it said had driven profitability growth there.

Despite closing its US standalone locations, Seasalt continued to invest in physical retail elsewhere, ending the year with 82 stores globally. The brand said its stores "play a critical role in bringing Seasalt's brand to life, showcasing the quality and craftsmanship of our product while delivering the exceptional differentiated customer service that underpins our strong customer loyalty and advocacy".

Looking ahead, Seasalt is targeting international sales of 20% of total revenue over the next 12 months, with wholesale expansion in the US and Europe central to that goal.

In an interview in March, Chief Executive Officer Paul Hayes shared his passion for sustainability and highlighted the key lessons he learned early in his career. He also offers advice he would give his younger self and outlines the significant potential he sees to continue growing Seasalt and introducing the brand to new global audiences.