A technology business which launched just two years ago is on track to turnover £50 million by 2022.
Staffordshire-based The Moot Group has reported ten times year-on-year growth since it was founded in 2018.
The business was established by Staffordshire tech entrepreneur Nick Moutter who used his background in performance marketing and technology to evolve the e-commerce world through automation.
For 2020, The Moot Group – which is based on Stone Business Park – is expected to deliver revenues of £20 million as a result of the boom in online retail throughout the pandemic.
And early next year, the company plans to raise investment to support further growth which will include a recruitment drive of up to 50 staff – and an ‘aggressive’ international expansion programme.
The Moot Group is the parent company of some of the UK’s leading homeware e-commerce platforms.
It owns luxury furniture and homeware brand Olivia’s and Glasgow-based Houseology, which it saved from administration earlier this year.
It also generates an annual £3 million through third party technology licenses – to the likes of Rolls Royce and Sports Direct – for its customer acquisition technology and e-commerce tools.
Nick Moutter said: “I’m in a fortunate position to say 2020 has been an exceptional year for The Moot Group – the acquisitions we made earlier in the year have accelerated growth across all of our companies, as well as our unique and innovative approach to marketing the group’s e-commerce brands.
“The next few years are looking very promising, and I hope our plans to recruit up to 50 members of staff over the next 12 months will provide some welcome positive news, in what is currently a very uncertain economy and jobs market.”
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He added: “We already have investors lining up at the door to talk to us who are very excited about our expansion plans into international markets by the end of 2020. It’s definitely an exciting, and profitable, time to be part of The Moot Group.”
As part of the The Moot Group’s plan for growth, Olivia’s – which specialises in the supply of stylish furniture for bedrooms, dining, outdoor and kitchen as well as home decor including mirrors, desks and lighting – is due to be launched in Europe and the United Arab Emirates this month.