Regional online sports retailer, Bearhug, has predicted its 2021 annual revenue to be in excess of £1 million, following a record year of growth in 2020.
The independent regional company reported a 110% increase in sales from 2019 to 2020 and is now forecasting a 300% increase in 2021.
Established in 2016, Bearhug is the brand behind a range of joint supports and muscle sleeves, which are uniquely produced using bamboo. Bamboo is scientifically proven to increase blood flow and dramatically reduce rehabilitation and recovery periods, whilst enhancing performance.
Over the last four years, the products have become increasingly popular with both elite and everyday athletes looking to train harder, recover faster and perform better thanks to the unique qualities of the bamboo.
Despite the ongoing pandemic which saw the company experience major challenges with supply chain disruption, the young agile team are continuing to propel the business forwards with continued and growing success.
Co-founder Rhys George, said:
“Following a record year of growth in 2020, our next year is looking even stronger. We have ambitions to achieve annual revenues in excess of £1 million, which would represent a 300% growth.
“We plan to execute this growth online through our own website and Amazon platforms, we are also looking to widen our availability through specialist retailers as the country opens up in 2021. Looking even further forward, we also have our sights set on future growth in international markets.
“2020 was a whirlwind of a year and whilst we faced many challenges as a result of the pandemic, our team was incredible at turning things around and making 2020 a huge success. We’re proud of how far the brand has come in the last four years and the growth that we’re experiencing is testament to this. We are extremely excited to see what 2021 has in store for us.”
Bearhug’s range includes wrist, elbow, knee, and ankle joint supports, along with thigh and calf muscle sleeves. Its products are sold directly through its website and via Amazon. For more information visit https://getabearhug.com/