Warpaint London says 2017 and New Year trade is strong, Retra synergies being seen
And the integration of the Retra make-up business it acquired in November is working, with the new business “performing well” and new management for the brand appointed in December.
Joint CEOs Sam Bazini and Eoin Macleod said they’re “very pleased with the performance of the group in 2017” and are already “seeing new opportunities and synergies from the combination” of Retra with Warpaint.” 2018 has also “started well”.
Warpaint bought its smaller peer last year as it targeted expansion in the gift market with more than half of Retra’s business covering that area, and its customers including some of the UK’s biggest names such as Boots and Superdrug.
The acquisition came after Warpaint had reported a succession of strong results. In September it revealed that first-half sales and profits had both risen almost 4% and its main W7 brand was up more than double that figure.
And launches like its still-new Vegan range, plus the Retra acquisition, are helping it build a business in some of the sector’s key growth areas such as vegan-friendly products and gifting.
Investors in the firm seem to be pleased that all is going well with the company’s shares rising more than 2% in early trading on Wednesday.
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