Seasalt posts 'strong' full year results boosted by international growth

Cornish clothing brand Seasalt has posted revenues of £150 million for the full year ending 1 February 2025, up 13% year-on-year. International sales now represent 11% of total revenue - up 7% on the previous year.

Group EBITDA was £11 million, up by 5% and there was "another record-breaking year in bricks and mortar stores", with sales up 8% on the prior year. Online revenues also grew 8% year-on-year, "reflecting an increased investment in digital marketing".

During the year, Seasalt continued to invest in new stores in the UK, opening in Glasgow and Rushden Lakes, as well as relocating the store in Cribbs Causeway, Bristol. International store expansion also continued in the year, with the opening of Seasalt’s first US store on Cape Cod and its fourth Irish store in Wexford.

Significant progress was made in growing relationships with strategic partners, including Marks & Spencer, NEXT and Zalando. Third-party channels (including wholesale) were the fastest growing channel in the year and now account for 24% of total revenue, up from 13% in the prior year.

Seasalt was recognised as one of Zalando’s fastest-growing brands during 2024, driving strong international growth in both new and existing European markets.

Paul Hayes, Chief Executive Officer at Seasalt, said: "The trading period under review represents another strong year of revenue for Seasalt, up 13% year-on-year, representing growth across every channel.

"We set out with a long-standing ambition to expand internationally, including opening our first US store, which we successfully launched in September 2024, and we have continued to grow our store portfolio in the US, Ireland and here in the UK since.

"It was a milestone year in terms of our ESG commitments too, seeing us realise another ambition to achieve BCorp status, which we achieved with an outstanding score versus our sector average.

"As always, we are not content to rest on our laurels, despite ongoing global uncertainty and economic challenges, we are concentrating on our growth plans for the year ahead, with a particular focus on our partner channels where we see significant opportunity, along with expanding our own store portfolio in tandem."

In May, Seasalt launched a new points-based loyalty scheme in the UK called Seasalt Rewards, which awards points for all purchases. That replaced the traditional stamp card model in UK Seasalt stores with a digital mobile wallet card, "providing more personalised experiences and communications" designed to increase engagement and retention of both in-store and online UK customers. There is no threshold spend, and points can be redeemed on future purchases, with 100 points worth £5.