Space NK has reported bumper sales in 2024, as the retailer prepares to open additional stores in the UK.
Turnover rose 34% to £196.5m in the year to the end of March, while pre-tax profit increased from £1.5m to £7.5m during the same period.
The performance has been fuelled by Space NK’s younger shoppers, with under-25s being credited as the fastest-growing category at 164% growth.
Millennial shoppers also contributed towards the increased sales, alongside Gen Z and Gen Alpha.
Space NK claimed this sales growth has continued into its 2025 financial year, with H1 figures up 38%.
“We are delighted to report another record-breaking half of sales (April 24 - Sept 24) up 38% on last year, continuing our run of greater than 30% growth every year since 2020,” said Space NK CEO Andy Lightfoot.
In-store sales, meanwhile, have increased by 24%, while online sales jumped by 35% during the first six months of the year.
“Since then, the business has more than doubled its revenue and with our customer-first mindset and expertly curated brands, we are delighted with our consistent and continuous growth,” added Lightfoot.
The bumper sales come as Space NK expands its UK portfolio with ten additional stores, which has already seen a store open in Meadowhall, Sheffield, on 17 November.
A new store will also open in Milton Keynes on 23 November, with further openings in Bluewater and other locations planned for 2025.
This follows Space NK's June offloading of its US wholesale division to the North American distributor for JVN Hair and Balmain Beauty.
Space NK's assets will be used to improve the “growth potential” of the beauty supplier headquartered in New York.