BGF backs fast-growth ecommerce business

Added by Love Business East Midlands | 18 November 2020

UPDATED: 18 November 2020

BGF – the UK’s most active growth capital investor – has invested £8 million into Leicestershire-headquartered UK Flooring Direct to support its ongoing growth ambitions. 

The business was set up by CEO Jason Ashby in 2005 with £299 to purchase a website that would form the original platform for the business. UK Flooring Direct went on to generate sales of £750,000 in its first year and now, 15 years later, expects revenue to top £50 million this year, having doubled sales over the last 24 months. 

Recent figures from Barclaycard show retail spending on home improvement was up 26 per cent compared with September last year. The key driver of UK Flooring Direct’s growth has been this channel shift in home improvement, with an increasing propensity for consumers to purchase online. 

Also to note, ONS is due to publish its latest retail sales index this Friday 20^th November at 7am, which is expected to show a further increase in volume sales in household goods stores and “other” non-food stores, which increased to 11.0% and 10.7% above February, respectively, as shown in its September index: https://www.ons.gov.uk/businessindustryandtrade/retailindustry

Picture: Jason Ashby, Founder & CEO of UK Flooring Direct

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