Posted by
Emma White
Luxury home interiors retailer OKA is seeing the benefits of its 2024 financial restructuring, with profits tripled and annual sales growth of 25 per cent.
In the 12 months to the end of June, sales of furniture, lighting and homewares rose to £46.1 million from £36.8 million in the previous year.
Adjusted EBITDA increased from £1.7 million to £5.3 million, which the brand attributed to improved gross margin and a reduction in its cost base.
OKA moved to an operating profit of £1.3 million from a loss of £4.8 million over the same period.
Mark Saunders, chief executive of OKA, said: “These results are an important milestone on our turnaround journey. We’ve taken some difficult decisions, re-focused on the UK market and rebuilt OKA around the things that make us unique – design, quality, craftsmanship and exceptional customer service. This is resonating with an increasingly intentional consumer who is building their home interior around key, investment pieces.”
He added: “We’re also making the range far more accessible through our investment in the bricks and mortar estate as well as our online business, which is introducing new and younger customers to the brand. There is great momentum in our trading performance and we’re confident our strategy will help us deliver sustained sales growth”
In June 2024, OKA put plans to the CVA which saw one of its 13 stores shuttered with a distribution centre and one of the retailer’s head offices also affected.
As well as its boosted results, OKA is also nominated for Homeware Retailer of the Year at the 2026 RG Excellence Awards. See the full shortlist, and all categories here. This year’s awards will be hosted at the Underglobe on 14 October 2026.
Article by Retail Gazette