A Leeds-based ecommerce business that started out selling vintage lightbulbs on eBay has announced its half year financial results, racing towards the £1 million annual turnover milestone in its second year of business.
Dowsing & Reynolds, a design-led interiors company launched by James Dowsing-Reynolds from his kitchen table in 2013, has now achieved £416,000 turnover in the period March – September 2015. It is now firmly on track to surpass £1 million by the end of the year with a record-breaking month in October and its busiest time of year ahead.
This financial year alone, the company has taken on six new employees and moved to larger premises on Mabgate, near Leeds city centre, to accommodate the company’s rapid growth and meet increased consumer demand. Head count now stands at nine, with plans to take on more new staff in the coming year as Dowsing & Reynolds continues to extend its offering.
James says: “To hit the £1 million annual turnover mark in only our second year will be a massive achievement for us as a young business and pushes us into that next phase of growth. Forecasted sales have never been stronger.
“It started with a lightbulb moment to sell vintage bulbs, and now we’ve expanded the range to offer the full spectrum of design-led, affordable lighting products and diversified into other fashionable home décor items you won’t find on the high street. It’s working – we now export to 33 countries worldwide and receive over 100,000 hits on our website a month.”
Entrepreneur James, 35, got his first taste for business at the age of 19 when he set up a family business selling interior and exterior home products. He later turned the premises into a bar and became the youngest licensee holder in his home town of the Isle of Wight. Dowsing & Reynolds was born when James met wife Ally, a digital expert with a shared passion for interior design. A true husband and wife team, Ally is now marketing director for the company.
James adds: “Our customers use lighting as design for the room, rather than a necessity. As a nation increasingly obsessed with making our homes look better and not having what everyone else has got, Dowsing & Reynolds has a huge opportunity to grow further because we originated that mix and match, bespoke lighting offer and we’ll never stop looking for the next thing. We’re looking forward to the next year in business.”