Previously operating a wholesale division which supplied the likes of Asos, Selfridges and Harvey Nichols, Lavish Alice is now focusing entirely on direct to consumer operations. This follows mounting difficulties encountered in supplying its wholesale customers, not least wholesale cancellations and tight profit margins. Administrators have been called in to handle the closure of its wholesale business. Wholesale represented less than a third of the business’ £17m 2022 revenues. All staff at the business are being retained.
Co-founder Matthew Newton said: “The Lavish Alice journey is only just beginning. We have traded throughout 2022 and demonstrated consistent post-pandemic growth. Demand for the brand and websites sales are at a record high with revenue up by 71 per cent YOY across 100,000 transactions.”
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