How Love Island is helping sales at Superdrug
PUBLISHED: 18:21 03 July 2018 | UPDATED: 18:31 03 July 2018
Superdrug’s tie-up with Love Island has helped drive a 16% profits leap as fans of the hit TV show snapped up bronzer, make-up and hair products.
The high street chain posted pre-tax profits of £92.9m for 2017, up from £80.4m the previous year, with like-for-like sales 2.5% higher.
Superdrug, which has continued its sponsorship of Love Island this summer, also said the trend for social media facemask selfies helped skincare sales rise 10%, with sheet-masks and bubble-masks popular products.
The group – owned by AS Watson, which is ultimately controlled by Hong Kong billionaire Li Ka-Shing – said overall revenues rose 2.3% to £1.2bn as it bucked wider woes on the high street to open 22 more stores – taking its total at year-end to 804 across the UK and Ireland.
It invested £31m last year, mainly on the new stores and refurbishments as well as its digital IT capability.
It comes as many rivals are axeing shops in the face of flagging sales.