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UK cuddly-toy maker Jellycat is looking to pay £58mn in dividends to its owners after demand for soft toys, which include its Vivacious Aubergine Vampire and Brooke Otter, pushed up annual sales and profits.
The company’s revenues rose 37 per cent to £200mn as it went “through a period of rapid growth”, according to new filings at Companies House for the year to December 31. Pre-tax profits increased 24 per cent to £67mn as it sold more of its products through wholesalers and online, as well as achieving “consistent growth in its key markets of Europe, North America and Asia”.
The privately owned brand, which was founded by brothers William and Thomas Gatacre in 1999 in London and is run by chief executive Arnaud Meysselle, proposed to pay interim and final dividends of £58mn for the period, up from £9mn the previous year.
The company’s majority shareholder — with at least 75 per cent of the shares and voting rights — is Jellycat’s parent, Jellycat Toy Company Limited. The England-incorporated company is in turn controlled by two partners at R&H Jersey, an offshore service provider, as trustees.
Jellycat now sells toys, gifts and accessories in “many of the most prestigious stores” across 77 countries, according to its website, in contrast to its humble beginnings — a small stall at a trade show.
Its smallest plush Bashful Beige Bunny costs £9.95, although prices can go up to £1,000 for its Gigantic Sage Dragon, stocked by luxury department store Harrods. The Fuddlewuddle Puppy sold out at several outlets when Princess Charlotte was photographed with one as a baby.
William Gatacre retired early last year, according to the filings. He has previously said the company sought to disrupt the stale toys market more than 20 years ago, and named the brand after a suggestion from his brother’s son.
“We seemed to get a loyal customer base quite early on,” Gatacre previously said in an interview with MBS Group, an executive search firm. “And then what felt like great victories began — deals with John Lewis, Paul Smith, Selfridges, The Conran Shop, Colette in Paris. They were little moments of joy . . . not huge projects commercially, but very exciting.”
Jellycat said its main focus was to invest and plan for future growth. “We do not anticipate that external factors will fundamentally change our long-term vision for the business, and we look forward with a positive outlook,” the company added in its accounts.
Jellycat did not immediately respond to a request for comment.
