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Kidderminster carpet company reveals €100 millionth sale at its Italian business

29 March 2021
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Kidderminster-headquartered carpet and flooring company Victoria PLC, revealed that its Italian business has continued to grow throughout 2020/21 and on Friday invoiced its €100 millionth sale since the start of the financial year.

In December 2017, Victoria began its expansion into Italy by acquiring Sassuolo-based ceramic tile manufacturer, Ceramiche Serra - a mid-sized factory with revenues at the time of €28 million. Serra has performed very strongly under Victoria's ownership and, has twice outgrown its production capacity since then.

In February 2020, Victoria paid £9.9 million for the factory of a neighbouring business, which was facing closure, complete with its plant, equipment and brands. This was a highly efficient way of adding production capacity as it provided more-or-less instantaneous additional production capacity versus the 18-24 months it would take to build a factory, install the plant, and acquire emission rights.

This factory was fully integrated into the existing Italian operation during the following six months, with a reduction of employees from 368 to 250 FTE alongside production output increasing by 1.2m m ² of red body tiles and 0.7m m ² of porcelain tiles. The product mix was also optimised.

Despite the constraints of the last 12 months, growth has accelerated over the last 12 months with new significant customers and new markets - mainly in Eastern Europe and North America - being secured (nearly 100% of output is exported globally). As a result, on Friday 26 March, the business reached a remarkable milestone - invoicing €100 million of sales for the year since 30 March 2020.

Organic growth has again filled capacity and some production is once more being outsourced. Consequently, Victoria is now actively seeking to efficiently add further capacity to enable this production to be insourced to improve margins further as we are confident of additional growth in 2021/22.


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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