Rob McElhenney-backed Classic Football Shirts scores sales success
Sales surged at Classic Football Shirts, which is backed by the likes of TV star and Wrexham co-owner Rob McElhenney, during its latest financial year as it looks to expand further overseas.
The Greater Manchester-headquartered business has posted a turnover of £31.8m for the 12 months to 30 June, 2024, up from the £24.4m it reported for the prior year.
New accounts filed with Companies House also show its pre-tax profit fell from £5.4m to £1.1m over the same period.
A statement signed off by the board said: “The company continued with expansion plans during the year aided by improved availability of current season products, greater classic offering, as well as increasing the presence of physical stores in Europe and USA.
“The company remains the market leader in its sector of the industry and this is demonstrated by a growth in revenue of 30 per cent year on year.
“The directors remain pleased with the growth in the year and plan to continue expansion to meet the demand of Classic Football Shirts’ growing customer base and to ultimately continue to fulfil our company purpose, vision and mission.”
The accounts for Classic Football Shirts had been due to be filed with Companies House by the end of March this year.
Classic Football Shirts scores major backers
The results are the first since The Chernin Group invested $38.5m (£28.6m) in Classic Football Shirts in May last year.
At the time, the private equity firm said it aimed to help the company expand its geographical presence, particularly in the US.
According to its latest set of accounts, the business generated a revenue of £9.8m from the rest of the world, up rom £7.3m.
In the UK’s its sales grew from £11.7m to £13.1m and from £5.4m to £8.8m in the rest of Europe.
Classic Football Shirts was founded by Doug Bierton and Matthew Dale while they were at the University of Manchester in 2006.
The company had not outside investors until The Chernin Group invested.
Among the private equity firm’s exits are the likes of Twitter, now known as X, Pandora and The Athletic.
A few months after The Chernin Group’s investment was announced, TV star and Wrexham co-owner Rob McElhenney was revealed as an investor.
McElhenney was one of several backers brought together by The Chernin Group along with two-time World Cup winner Alex Morgan, former USMNT player and Fox Soccer analyst Stu Holden and the investment arm of the Wasserman agency, Wasserman Ventures.