Cubitts plots expansion to Ireland despite swinging to £1m loss
Cubitts swung to a near-£1m loss in 2025 as the spectacle maker counted the cost of its US expansion plans.
The London-based business opened its “first stores outside the warm but grey womb of the UK,” with two sites in New York City.
Costs of setting up across the pond pushed the eyewear designer to a loss of £967,000 for the year to end March 2025, compared to roughly breaking even the year before, while revenue rose 15 per cent to £16.8m.
“Revenue continued to grow, reflecting the ongoing appeal of the brand across retail, ecommerce and wholesale,” Cubitts said.
“Profitability, however, declined as we chose to invest heavily in the next chapter of the business, particularly international expansion.
“Opening in New York required meaningful upfront investment in people, property, infrastructure and management attention. This was neither unexpected nor particularly enjoyable, but it was an important step in building Cubitts into the business we intend it to become.”
New store planned for Dublin
But the costs of setting up in the US has not deterred the business from further overseas expansion, with its first site in Ireland planned to open in Dublin later this year, as well as a new fulfilment centre in New York.
The company has also taken a lease on a major new 13,000-square-ft facility in Camden, which it is due to move into later this year, and plans to open a store in Manchester in the summer.
“This was a significant moment for the business.
“For many years, international growth had felt both ambitious and slightly abstract; something we spoke about, planned for and worked towards.
“This year it became real.”
Cubitts was in 2013, who continues to control the largest share of the business. The company, which has stores in Covent Garden, Notting Hill and Spitalfields, has attracted investment from UK-based private equity firm Active Partners, a backer of Honest Burgers, Vinterior and Soho House.