British soft-seating manufacturer Bazaar Group has revealed a 12th consecutive year of growth in its latest end-of-year figures.
The self-financed Northumberland company recorded +19% growth for its financial year to April 2019, as well as maintaining a solid profit line and keeping within budgets. With strong performance across its business – particularly its online and wholesale markets – Bazaar is now making significant investment in its manufacturing capability, including doubling its production staff numbers.
The move will include additional support for its in-store brand, Ayla, launched at the January Furniture Show this year, with a new dedicated framemaking facility and additional upholstery machinery. The company is also expanding its business sales and ecommerce teams.
MD Mark Dolder says: “We are continuing to grow YoY and are pleased with the progress of the business. Despite the current economic climate, we’re very optimistic about the future. So by upscaling our manufacturing capability now, it puts us in a strong position to keep progressing as a business.”
Bazaar Group’s different routes to market have been one of the keys to its success, and despite the rise of online sales in the furniture industry, it believes the bricks-and-mortar market still has a lot to offer. “Our research has shown us that in-store retail still accounts for around 80% of furniture purchases, despite the rise of online sales," continues Mark.
“There are real opportunities right now in the retail market for stores who can give customers what they’re looking for. There’s no replacement for physically seeing, touching and trying out a piece of furniture, so we think it’s the right time to invest in our in-house capabilities to put us in the best position to give retailers what they need.”
As well as Ayla, Bazaar Group’s brands include Bean Bag Bazaar, Icon, Eden Learning Spaces and Bambeano.
Pictured: Bazaar's managers Jane and Mark Dolder
