Fast-growing premium outdoor furniture retailer Moda has opened a flagship store. The business, backed by private equity investor Endless, has invested more than £500k in the new 7,000 sq ft premises in Old Trafford, Manchester. The two-storey unit located in the Castlemore Retail Park contains the UK’s first ‘sensory room’ furniture display area, which allows it to showcase its range of firepits and outdoor lighting.
Founded by CEO Jonny Brierley in 2014, Moda is forecasting annual sales of over £35m in the year ending this month. This is up from £24.5m in 2020. A digital-first business, more than 70 per cent of revenues coming via eCommerce and digitally assisted channels. The business is however planning further showroom openings in 2022.
Brierley commented: “We are thrilled to be investing in the new showroom, which complements our online offer perfectly and allows our customers to experience our full range of furniture and accessories in a stunning environment.
“It is so exciting to be leading the Moda business through such exceptional growth. The last 18 months has been incredibly challenging for everyone, compounded by significant delays in shipping and the increase in the cost of international freight.
“Despite, this, we have continued to invest significantly in our business and we have opened three new showroom locations, which reflects the appeal of outdoor living and our customers’ desire to maximise the benefits of their outdoor space, and opportunities to relax and socialise with friends and family.”
Brierley and his business partner, Vallan McCarthy, led an MBO of Moda from its previous owners in 2019 with backing from Endless.
Tom Jack, partner in Endless’s Manchester office, said: “The Moda team has already achieved so much in a short space of time, with a huge amount still to come. In addition to the new showroom openings, the business has continued to invest in the supply chain to service demand with short lead times, has introduced a fantastic new contemporary range of furniture with all-weather fabrics to complement traditional rattan products, and has invested further in its own dedicated in-house fleet to ensure the best possible customer service, underlined by the recent £17m funding deal with Secure Trust Bank.”
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