Eve Sleep which competes with the likes of Simba in the home delivered mattress sector has posted annual sales of £27 million. This includes an increase in sales in the UK and Ireland of 109 per cent and a 174 per cent increase for the rest of Europe. It is now operating in 15 countries and has 145 stores and concessions in the UK and Germany. Pre-tax losses for the year rose to £19 million and included the costs associated with its AIM listing and a steep increase in its advertising expenditure.
Commenting on the results, Eve Sleep CEO Jas Bagniewski said ” In what is just our third year of operation we have more than doubled sales and driven substantial improvement in gross margins, whilst raising £35m of growth funding from our listing on AIM. We are building a sizeable business across Europe that we believe will continue to win market share from traditional operators as the £26 billion sleep market continues to transition to online.”
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