Pure Beauty

Superdrug's quiet play to become Britain's go-to beauty retailer

By Alessandro Carrara | Published: 8-Jul-2024

Superdrug has reported a significant jump in pre-tax profits in 2023, driven by a growing bricks-and-mortar portfolio and digital investments

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Superdrug has proven itself as no pushover in the battle to be the UK’s top beauty retailer.

The budget beauty business reported a sales increase of 11.8% to £1.52bn in 2023, which helped it achieve a third consecutive year of market share increase at 10.6%.

It also saw pre-tax profit nearly double to £111.3m in 2023, an increase on the £77.8m reported during the prior period.

But the competition to be the top name on the UK high street is fierce, with Superdrug’s rival Boots having also amassed significant market share in recent years.

The British health and beauty retailer’s sales increased by 6.3% to $37.1bn in Q2 2024, which was driven by a bumper Christmas trading period.

Digital sales were also up 16.8% during the period and were supported by increased purchases of beauty and personal care products.

Sephora and Space NK have equally been investing in their store portfolio in 2024, while THG Beauty’s Lookfantastic plans to open its first concept store in September.

How is Superdrug keeping pace with the sector's top players?

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