Warpaint London, the go-to destination for affordable beauty products, proudly reports a continued strong trading performance, surpassing market expectations. As the driving force behind renowned brands like W7 and Technic, the company caters to diverse retailers, experiencing substantial growth globally.
Demonstrating resilience post-period-end, as revealed in September’s results for the six months ending June 30, Warpaint London stands out in the beauty industry. This resilience aligns with the enduring «Lipstick Effect,» showcasing consumers’ affinity for budget-friendly beauty items even in challenging economic climates.
Anticipated group sales for the year ending December 31 are set to exceed £85 million, a significant rise from the previous year’s £64.1 million, with the pivotal pre-Christmas sales period still underway. The robust gross product margin surpasses 2022 levels. The expected profit before tax for the year is «in excess of» £16 million, a noteworthy increase from the previous year’s £7.7 million.
Warpaint’s strategic expansion is in full swing, with planned launches in 2023 and 2024 targeting new major retailers and expanding product offerings with existing customers. Recent launches include a range of W7 products in 400 Etos stores in the Netherlands and 100 Watsons stores in the Philippines. Additionally, various Technic products are making their debut in over 200 Wibra stores in the Netherlands this month.
Ongoing expansion with existing retailers includes the availability of W7 products in an additional 372 CVS stores in the US and 102 Boots stores in the UK during Q1 next year. The company’s unwavering commitment to growth and innovation solidifies its position in the beauty market, providing accessible and high-quality products to a global audience.
Stay updated for more exciting developments as Warpaint London continues to make waves in the beauty industry, forging new partnerships and expanding its product offerings for a diverse and engaged audience.