Food & Drink

Nightcap reports ‘strong’ sales as consumers return to bars

Products You May Like

London Cocktail Membership proprietor Nightcap noticed its internet gross sales rise by 68% within the 13 weeks to 26 September 2021, in comparison with the identical interval in 2019.

London Cocktail Club
London Cocktail Membership was acquired by Nightcap in December 2020

Nightcap was launched final yr with the purpose of turning into the UK’s main bar operator via buying, investing and increasing drinks-led ideas.

Nightcap’s gross sales reached £7.6 million for the 13-week interval, in comparison with the identical interval in 2019 previous to Covid-19 restrictions.

The group attributed its gross sales enhance to ‘pent-up shopper demand for experiential socialising’ and clients with disposable earnings.

The agency acquired UK-based bar chains London Cocktail Club (LCC) in December 2020 and Adventure Bar Group (ABG) in Could 2021.

LCC’s internet gross sales for the 13-week interval rose 55%, in comparison with the identical interval in 2019. The bar operator is because of open three additional sites in London, Reading and Bristol in November, bringing the whole variety of LCC venues to 22.

In the meantime, ABG, which owns bars equivalent to Tonight Josephine and Blame Gloria, noticed internet gross sales rise 75% within the 13 weeks to 26 September 2021.

Sarah Willingham, Nightcap CEO, stated: “I’m delighted to announce this improve of our expectations for Nightcap’s first yr, on account of such sturdy efficiency throughout the group.

“Nightcap was constructed throughout the Covid-19 international pandemic to amass and develop main manufacturers within the drinks-led bar sector and while the macro-economic local weather stays unsure, we imagine that this uncertainty is core to our alternative.”

Willingham famous that new venues have gotten accessible on account of the pandemic, whereas the top of the lease moratorium in March 2022 will assist “additional enhance availability of fantastic websites”.

She added: “With the opening of three new websites in November and an extra 23 websites in authorized negotiations or beneath provide, we’re assured each within the power of our bar ideas and in our capability to proceed our speedy growth throughout the UK.”

Products You May Like