The shift away from “throwaway” furniture towards longer-lasting products continues to benefit the Cotswold Company, which has bucked the volatility that has rocked much of the homewares sector since the pandemic.
While rivals such as Made.com collapsed after lockdown-driven demand faded, and retailers from John Lewis to Marks & Spencer have been reshaping their strategies in the category, the Cotswold Company has reported another period of strong trading.
The Cotswold Company, which was founded in 1996 in Bourton-on-the-Water, Gloucestershire, reported a 30 per cent increase in sales to £56.9 million in the six months to the end of August, with new showroom openings and a stronger digital offer helping it “materially outperform” the wider market. Barclays data showed the home and furniture sector rose by only 5.2 per cent over the same period.
Ralph Tucker, who became chief executive shortly before the pandemic, said the business had “seen an increasing number of customers look for alternatives to soulless, low-quality furniture”. He once described the company as the opposite of fast-fashion retailers like Boohoo, “where you buy something and get rid of it in five minutes”.
The company sells solid wood furniture, upholstery and home accessories positioned at the premium end of the market. Dining tables typically start at around £700, with sofas running into the thousands, aimed squarely at more affluent households seeking durability and classic design over disposable, mass-market alternatives.
As part of efforts to underline its focus on quality, the company this month named Will Kirk, the BBC Repair Shop furniture restorer, as its “quality expert”. He has emphasised furniture “built to last”.
Will Kirk from the Repair Shop
COSTWOLD COMPANY
The business, backed by the private equity firm True Capital, now has 13 showrooms and two outlet stores in the UK, alongside partnerships with Next and John Lewis. New openings in Knutsford in Cheshire, and Harpenden in Hertfordshire, are trading “well above expectations”, according to the company, with two more due by the end of the year.
Active customers rose 21 per cent year-on-year to more than a quarter of a million. Upholstery orders increased 82 per cent and accessories sales were up 38 per cent, the group said.
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The company has also launched its first artificial intelligence tool for customers, which uses data to improve on-site search results and boost visibility on search platforms.