Footasylum Reports Record Growth in Fiscal Year 2024 Driven by Store and Technology Investments (original) (raw)

Footasylum reported a year of record growth in 2024.

The Aurelius-owned shoe chain announced Wednesday that revenue for the year that ended on Jan. 24, 2024 was up 7 percent to 319.5 million pounds, ahead of the 297.9 million pounds the year prior. By channel, online sales were up 15 percent to 134.9 million pounds and wholesale sales were up 87 percent to 16.8 million pounds, driven by the chain’s portfolio of brands that have spurred international growth. Online sales now make up 42.2 percent of all sales.

In addition to its sale of popular third party brands like Nike and Adidas, Footasylum also sells a mix of its own brands such as Zavetti Canada, Alessandro Zavetti and Monterrain.

Operating profit for the year increased 61 percent to 10.4 million pounds and profit before tax increased 112 to 6 million pounds.

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“We are delighted to report that fiscal year 2024 has marked Footasylum’s best-ever financial performance,” said Footasylum chief financial officer Nick Scott in a statement. “We achieved record revenues and profits, driven by double-digit growth in both wholesale and online sales.”

On social media, Footasylum’s following grew by 1.4 million to 5.8 million total followers, driven by the chain’s fourth Locked In reality series that reached 37 million views and saw over two billion impressions across all platforms.

Scott added that the chain has invested in technology for its omnichannel experience, has expanded its brand portfolio and has carried out a robust store expansion program. The chain opened a new 20,000 square-foot flagship store on London’s Oxford Street last September and has opened several other large stores since last fall. Footasylum also recently started using a mobile-first omnichannel tool to help guide the customer journey.

“With strong momentum across the business, and the proven success of our ambitious growth strategy, we are extremely optimistic about Footasylum’s future prospects,” Scott said.

Footasylum noted that its strong performance has continued into fiscal year 2025.

JD Sports Fashion Plc previously owned Footasylum and sold the chain to German asset management firm Aurelius for 37.5 million pounds in August of 2022. In March, Footasylum named David Pujolar as chief executive officer. He previously served in leadership roles at AW Lab, Adidas, Foot Locker and Tommy Hilfiger.

“Footasylum’s continued strong growth underpins the impact of the bespoke guidance that we are able to provide with our team at Aurelius Operations Advisory,” said Tobias Klaiber, managing director at Aurelius operations advisory, in a statement. “Our specialists support driving success across various aspects of the business, from working capital management to operational efficiency and, most importantly, growth. We are particularly proud to see the strong management team thriving and positioning the company for further expansion, aligning with Footasylum’s strategy: transforming into a disruptive entertainment company and leading brand incubator.”