Nails Inc to enter new markets
Follows strong financial performance for the year ended 30 June 2012
UK nail bar chain Nails Inc has announced a strong financial performance for the year ended 30 June 2012. Turnover increased 49% to £21.7m from £14.6m in 2011 while EBITDA grew 100% to £3.8m from £1.9m. Pre-tax profits totalled £3.4m, an increase of 127% on 2011 (£1.5m).
Following its successful launch in Sephora stores in the US and Canada in September 2011 and its recent launch in the Middle East via retailer Alshaya in October 2012, Nails Inc is also poised to enter Mexico and South Africa in December 2012 and Brazil from January 2013.
“We are delighted with the companies strong performance over the past year. The US has been a hugely successful market for us and we are very excited about launching the brand into other key international markets in the coming months,” said founder and managing director Thea Green. “Nails is one of the fastest growing categories in the beauty sector with nail polish an easy affordable way for women to stay on trend. We expect demand for our product to continue to grow, both in the UK and overseas.”
