High Street

Simba reports ‘record’ start to the year

The business also expanded its strategic partnership in the UK and Europe with USleep, the mattress division of The Belfield Group

Simba, the London-based sleep technology business launched in 2016, has reported its highest ever Q1 sales and profits.

It revealed Q1 2021 sales jumped by 295% YOY in the UK, as consumers continued to “invest heavily in their sleep”.

The sleep technology firm also witnessed a 265% YOY leap in global sales over the same period, with operations in France, Canada, China and the UK all recording record results.

During the period, the business also expanded its strategic partnership in the UK and Europe with USleep, the mattress division of The Belfield Group.

The retailer said the partnership builds additional supply side stability for Simba as it deals with all high time high demand and growth, and also formalises a joint drive to further innovate across existing and new product ranges.

It also confirmed that performance through the lifting of lockdown has remained very strong, with a record April for the firm, and on a trajectory again for a record quarter, delivering it’s best ever Q2 financials.

Steve Reid, chief executive of Simba, said: “Thanks to the continued hard work and support of the team and our partners, the business is going from strength to strength.

“Like many firms, we were hesitant about how Brexit would play out, but we made a number of improvements to our supply chain in 2020 which facilitated a smooth transition, rather than putting on the brakes. The shift to online shopping for many consumers that Covid accelerated is also showing no signs of abating.”

He added: “And the overwhelmingly positive reception to the Luxe mattress further confirms quality is a greater purchase driver than price, suggesting that good sleep and a quality mattress is not something to make concessions on.

“Moreover, the growth of the UK business has also spurred solid international growth and we look forward to accelerating our position and market share in France, China and Canada this year.”

Nicholas Pink, chief operating officer at Simba, said: “Simba’s success has been driven by a formula of consistently evaluating and sharpening up business practices, genuine product innovation and delivering quality.

“Sustained sales growth throughout 2020 has crucially been underpinned with continued and record profitability in 2021, validating that the model is not only robust, but sustainable.”

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