Easy Bathrooms has set out ambitious growth plans that will see a significant increase in turnover by opening 60 new locations by the end of 2023 — a move that the Yorkshire-based company says will rival Victoria Plum in becoming the largest employer in the UK bathroom market.
The new expansion plans follow Easy Bathrooms’ announcement of a £13 million cash injection back in January.
Founded in 2012, Easy Bathrooms has grown rapidly over the last two years and its latest set of accounts show operating profits of £6.2m in 2020, with turnover of £46m. The retailer is forecasted to reach £93m turnover this year, before going on to achieve £130m in 2023.
Easy Bathrooms has already launched 17 showrooms this year, adding to its existing network of 117. The retailer is building a £10m, 330,000sq ft distribution and logistics hub in Wakefield, which will open in autumn 2022. The company says its 110,000sq ft headquarters in Birstall will be repurposed into the largest bathroom and tile destination in the UK.
Craig Waddington, Easy Bathrooms’ founder and majority shareholder, said: “We have made a better-than-expected start to 2022. Our sales in the last 12 months have hit £54m and in this financial year we expect that to increase to £93m. We are well placed to keep growing, and we are proud that our growth trajectory means we will keep creating much needed jobs, each and every week.
“The high street is changing. And I’m often asked why we keep rolling stores out when others are closing theirs, and the honest answer is, what other bathroom brands do you know where the price is right, the quality is good, the range of choice is wide, you can browse the products before choosing them, and, whether you’re in Leeds or London, there’s likely to be a store near you?”
Waddington added: “We are creating what the customer wants – we put them at the heart of our strategy, and it’s paying off. By opening new showrooms, we’re creating the opportunity for more customers to shop with us, whilst investing into our online store too, for those without a showroom close to them yet. We’re excited to provide new customers with access to our award-winning products and unbeatable value.”