Outdoor retailer opens new flagship
Moda Outdoor Furniturethe Manchester-based premium outdoor furniture retailer capped off another year of growth with the opening of its flagship store in its home town.
The company, backed by private equity investor Endless, has invested over £500,000 in the new 7,000 square foot glass-fronted store in Old Trafford.
Reflecting Moda’s commitment to innovation and quality, the two-storey unit contains the UK’s first ‘sensory room’ furniture display area, allowing it to showcase its range of fireplaces and outdoor lighting – items that are already popular with online shoppers.
Located in Castlemore Retail Park, at the crossroads of Chester Road and White City Drive, close to Old Trafford football ground, the store is a short distance from the town centre, and also on one of the roads of busiest suburbs south of the city.
Founded by CEO Jonny Brierley in 2014, Moda has seen “outstanding” growth over the past six years. With annual sales expected to exceed £35m in the year ending this month, up from £24.5m in 2020, the company now employs 122 people at its Manchester headquarters and its destination showrooms in Manchester, London, Cheltenham and Milton Keynes.
Moda is a digital-focused company, with over 70% of its revenue coming from e-commerce and digitally-enabled sales. However, further select openings are planned for 2022, and Jonny is particularly proud to be investing in the northern core of the business – particularly given the high levels of UK store closures in recent years.
He explains: “We are delighted to invest in the new showroom, which perfectly complements our online offer and allows our customers to discover our full range of furniture and accessories in a beautiful environment.
“It is so exciting to lead the Moda business through such exceptional growth. The past 18 months have been incredibly challenging for everyone, compounded by significant shipment delays and rising international freight costs.
“Despite this, we have continued to invest significantly in our business and have opened three new showrooms, reflecting the appeal of outdoor living and our customers’ desire to maximize the benefits of their outdoor space, as well as opportunities to relax and socialize with friends and family.
Jonny and his business partner Vallan McCarthy led an MBO of Moda from its former owner in 2019 with backing from Endless.
Tom Jack, partner in Endless’ Manchester office, comments: “The Moda team has already achieved so much in a short time, and there is still a lot more to do. In addition to new showroom openings, the company continued to invest in the supply chain to meet demand at short notice, introduced a fantastic new range of contemporary furniture with weather resistant fabrics to complement traditional rattan products, and has further invested in its own dedicated in-house fleet to ensure the best possible customer service, underlined by the recent £17m finance deal with Secure Trust Bank.
Moda earned a ranking in the Sunday Times BDO Profit Track 100 for the first time this year, ranking 64th in the index of the UK’s 100 fastest growing private companies with profits over their last three years.