The Moot Group, parent company of Houseology and several other ecommerce homewares platforms, has reported 10x YoY growth since launching in 2018, and says it is on track to turn over £50m by 2022.
After a record year that saw online retail boom, the company plans to raise investment in early 2021, to further support growth through new hires and an aggressive international expansion programme.
The Staffordshire-based business owns Olivia’s, one of the UK's fastest-growing retailers of premium homewares (boasting +1100% growth this year), and acquired competitor Houseology this spring. The Moot Group took on all assets, including its IP and stock, after poor sales in Q419 forced the company into administration. Since acquiring Houseology, The Moot Group turned it into a profitable business within just four months.
Nick Moutter, founder of Olivia’s, says: “I’m in a fortunate position to say 2020 has been an exceptional year for The Moot Group - the acquisitions we made earlier in the year have accelerated growth across all of our companies, as well as our unique and innovative approach to marketing the group’s ecommerce brands.
“The next few years are looking very promising, and I hope our plans to recruit up to 50 members of staff over the next 12 months will provide some welcome positive news, in what is currently a very uncertain economy and jobs market. We already have investors lining up at the door to talk to us who are very excited about our expansion plans into international markets by the end of 2020. It’s definitely an exciting, and profitable, time to be part of The Moot Group.”