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Global Brands announce record 26.6% increase in turnover
Global Brands has announced a record increase in turnover for its last financial year to September 2022, as the firm’s international footprint continues to grow.
The news has seen the Derbyshire-based firm report a rise to £84.4 million in sales compared to £66.6 million in 2020/2021.
According to the company, which owns a portfolio including Franklin & Sons, Hooch and VK, the double-digit growth was driven by a 50% increase in international sales as well as launches such as Lustre liqueurs, canned cocktail and Ready To Drink (RTD) products.
Following the launch in 2019 of Franklin & Sons, the international arm of the business is now seeing “significant growth”, it said, with turnover reaching £5 million. Profitability also increased to £6.9 million compared to £6.1 million in the previous financial year.
Additionally, the firm purchased the trademarks for Hooch, Hooper’s, and Reef from Molson Coors and a new VK & Soda RTD, which is lower calorie and zero sugar.
A £2 million expansion of the Global Brands Distribution Centre has also recently completed, it said, which would increase capacity from 30 million to 40 million products stored.
Steve Perez, Founder and Chairman at Global Brands: “21/22 has been our sixth successive year of growth, almost doubling our turnover in the last five years.
“Franklin & Sons is now the second biggest premium tonic in the UK on trade, and we’ve seen fantastic growth for the brand in the UK and especially internationally, in markets in Asia, through Europe, and from our newly opened office in the USA.
“While economic conditions have been challenging in the six months since we’ve published our accounts, especially in regard to energy and raw material costs, we’re confident going forward that the company will continue its momentum in the next financial year.”
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