Better Bathrooms set to ‘smash’ record-high revenue of £50m in two years
Published: 26 September 2019 - Fiona Garcia
Despite falling into administration earlier this year, Better Bathrooms has seen a huge turnaround under new owners, Buy it Direct, as its new online-only model moves the company into profit within just six months
The Buy it Direct Group, which also operates e-commerce sites, AppliancesDirect.co.uk, LaptopsDirect.co.uk and furniture123.co.uk, bought Better Bathrooms out of administration on March 18 this year.
With administrators having closed all bricks-and-mortar stores, Buy it Direct turned the business into a fully-online model, operating from a central distribution hub and trading under the name BetterBathrooms.com. The move paid off, with Better Bathrooms moving from an ailing business to a profitable company in six short months. Buy it Direct has now announced plans to beat Better Bathroom’s £50million peak revenue within two years of its acquisition.
Buy it Direct Group managing director Nick Glynne said “Our revenue trajectory shows that, if we continue at our current pace, we will have taken BetterBathrooms.com from administration to smashing their peak revenue of £50million within two years.”
As part of the deal in March, Buy it Direct saved the jobs of 25 Better Bathrooms employees, all of whom are still employed and working on the brand. Due to the rapid growth of the acquisition, Buy it Direct is also looking to recruit a further 25 members of staff to join the Better Bathrooms team.
Online venture, BetterBathrooms.com lists more than 2,000 product lines, ranging from clearance stock, to new season ranges.
Mr Glynne added: “We are delighted to have acquired Better Bathrooms, which has great credentials within the bathroom and trade sectors, bringing further specialisms under the Buy it Direct umbrella.”
“This acquisition is key to the continued growth of Buy it Direct, and allows us to maintain our position within the e-commerce market. We anticipate BetterBathrooms.com will become a real growth market for the group, as we establish ourselves as the go-to supplier of bathroom fittings and accessories.