Joules Group PLC (LON:JOUL) is strategically focused on the multi-channel distribution of its distinctive aspirational own brand to a loyal and growing active customer base. It has a significant opportunity to grow international market share via wholesale partners and its online platform. The company has been consistently delivering results ahead of market expectations and consensus revenue forecasts for FY19 and FY20 appear undemanding.
A loyal and growing active customer base
Joules is an aspirational brand, renowned for colourful, family-oriented apparel and homeware ranges that are targeted at a broad and increasingly international demographic. What sets the company apart from its peers is a relentless focus on customer engagement, which it is using its distinctive product ranges and a strategic focus on multi-channel distribution to achieve. At H118 the group had grown its active database by 18% y-o-y to 1.1 million customers.
Creating a strong international platform
Joules Group is a growth company with a significant opportunity to increase market shares overseas. International currently represents 11.3% of group revenue and is focused on wholesale distribution in the US and Germany, supported by dedicated websites for each market. The recently expanded sales and marketing team in New York has brought brand distribution to over 600 independent stockists in-house. As the brand becomes better established in these markets, we see a compelling opportunity to develop the web platforms for higher margin online sales.
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