Harrogate-based interior design and furnishings business Richard Grafton Interiors has announced turnover in excess of £1m for its first year of trading from April 2012 to March 2013, 35% ahead of budget.
The retail and commercial interior design business, which recently made a £50,000 investment in completely redesigned and refurbished room sets at its three-storey showrooms, has grown from five to nine staff over the last year. Last September, it acquired Harrogate interior design business, Janet Sandles Interiors, and in December, the company joined forces with a renowned interior installations contractor Andrew Freestone to launch a new joint venture firm called Grafton Freestone. The joint venture handles all bedroom, bathroom and wet room design and project installations for Richard Grafton Interiors.
It’s been a fantastic first year for us. Despite the tough economic climate, we’ve got off to a flying start, thanks to our talented team of designers and our loyal client base.
We are already exploring ways of emulating the success of the Harrogate showroom and developing new partnerships. Our first joint venture, Grafton Freestone, is already performing well, demonstrating the benefits of integration, and we are planning a series of similar joint ventures to expand the services offered by Richard Grafton Interiors and build on our strategy of seeking opportunities for vertical integration.
We have ambitious plans for growth over the next year, aiming to increase the combined turnover of our retail business and interior design projects, together with Grafton Freestone, by 40%.
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Richard Grafton Interiors is based at a 3,000 sq ft retail and showroom premises on The Ginnel in Harrogate’s Montpellier Quarter. Featuring entire rooms to showcasing its design and installation capability and products, the recently updated showrooms include brand new living rooms, a dining room, bathrooms and a show apartment.