Annual profits at Bath online sex toy retailer Lovehoney trebled in the year to last March thanks to strong demand for its exclusive Fifty Shades of Grey licensed range.
The firm said its broadening mass market appeal – it now advertises on mainstream TV – and other top-performing own-brand lines also added to the increase in post-tax profits from £750,000 to £2.25m. 
Turnover increased by £8m, from £15.6m to £23.6m, on strong sales growth from its website in the UK and internationally.
As well as striking a deal with Fifty Shades of Grey author E L James during the period to produce a range that complements the best-selling erotic novel, Lovehoney also introduced new lines such as the Swoon range which are sold in Boots.
Current year performance is also strong, according to the firm, with pre-Christmas sales up by 45% as the company enjoyed the busiest month in its 11-year history.
Sales in the US and Australia have also grown substantially following the launch of country-specific websites in the summer. Localised websites for France and Germany will be launched in the next few months.
Staff numbers have more than doubled from 55 to 120 over the past two years and its executive team has been strengthened with the appointment individuals with significant plc experience, including financial director Ben White and commercial director Ray Hayes.
Lovehoney co-founder Neal Slateford said today: “As the switch from the high street to online gathers pace, we have been very effective in becoming the leading online destination for sexual happiness shoppers.
“They know they are going to get the product they want, at a good price, delivered quickly and discreetly. We have plans to take this offering to a large number of international markets, starting with France and Germany.
“We have captured a significant number of new customers this year with our TV advertising campaign and we have the most incredible community of loyal Lovehoney customers. Using their feedback, we continue to respond to customer demands by innovating both on our website and with our product range.”
Lovehoney said it was making good progress in maximising the Coco de Mer brand, having acquired the luxury Covent Garden boutique in 2011.
