Local Investment Pays Off For Lusso
Lusso, the UK’s fastest growing luxury home brand, has hit another incredible milestone after investing in its local area and expanding its Stockton-based team. The Teesside business has surpassed £100million of cumulative sales in just eight years of trading, outperforming all expectations and putting the company well on track to hit its target of increasing revenue by 45% in 2022.
To accommodate its growing workforce, which it aims to increase even further over the next 18 months, the business recently purchased its new headquarters in Stockton’s Princeton Drive. The investment aims to help the brand attract and retain the best talent within the region, and boasts over 12,000 square feet of immaculate office space across three floors, providing a luxury working environment in-keeping with Lusso’s signature aesthetic. As well as featuring spacious hotdesking facilities, breakout areas, meeting rooms and pods, it also includes a number of social spaces including an espresso station, relaxation nooks, a fully equipped gym, and a licensed bar.
Speaking on the company’s Stockon base, Lusso’s Managing Director, Mike Manders, said: “Hitting the £100m milestone is a fantastic achievement, and it speaks volumes about the calibre of the Lusso team and the amazing pool of talent within Teesside. Stockton in particular has a lot to offer to expanding businesses, and the location of our luxury headquarters positions us perfectly – we’re close to excellent transport links, we’re within walking distance of the town centre and the iconic Infinity Bridge, and we have fantastic waterside views. We’re now also neighbours with many other inspirational businesses operating in this area, including our eCommerce partners, Visualsoft.”
The Teesside business has gone from strength to strength after being set up by local entrepreneur Wayne Spriggs, and has earned repeated listings within The Sunday Times Virgin Atlantic Fast Track 100, which ranks the UK’s fastest growing companies. Last year Lusso was also placed 23rd in The Sunday Times Profit Track 100 League, positioning it ahead of many household names such as Gymshark.
Cllr Bob Cook, the leader of Stockton-on-Tees Borough Council, said: “We certainly welcome the investment Lusso has made in the area, and congratulate the firm on achieving its milestone of £100m cumulative sales.
“Stockton-on-Tees is a great place to do business, with great people and great places to live, and despite the Covid-19 pandemic businesses like Lusso continue to invest in the borough.
“The borough is already home to more than 5,000 businesses collectively contributing to around a third of the entire Tees Valley’s economic output.”
Reaching £100million of overall sales since the business began is the latest in a string of achievements for Lusso. In the last few months alone, the company has been appointed by global megabrands including Harrods, Tiffany & Co and the LVMH Group, which is testament to the exceptional quality of its products and service. The brand is also scheduled to open the doors to its first luxury Mayfair showroom in 2022.
In tandem with its phenomenal financial growth, Lusso has expanded on its collections of bathroom fixtures and fittings to now also offer homeware and hardware, with the addition of luxury furniture, paint and lighting ranges planned later this year. Along with its new international online storefronts, Lusso’s ongoing success is in line with its strategic vision to become the world’s leading luxury single-brand department store, offering everything for the home all under the Lusso label.