East Coast Concepts which runs bar and dining concepts Neighbourhood and Victor’s has reported record trade over the Christmas period.
Like-for-like sales for the group were up 10% in the six weeks to January 7, while overall sales increased 48% over the period. Revenues for the year to December 2017 reached £10million – up from £6.3million the previous year.
The figures are said to put the group in a solid position to capitalise on further growth over the next 12 months, with plans to open new sites for both Neighbourhood and Victor’s.
Founded by James Hitchen, the company opened Neighbourhood in Manchester’s Spinningfields in 2012, followed by more sites in Liverpool and Leeds (pictured), inspired by New York dining.
Victor’s, an elegant and contemporary Hamptons-inspired dining concept, was launched in Hale in Cheshire in 2014 and has a second site opening in Oxford in May this year.
James said: “It is testament to both the strength of our proposition and the hard work of our people that the whole group has traded so well through the competitive Christmas period.
“In Neighbourhood and Victor’s, we have two unique concepts which have continued to focus on innovation and delivering the best possible experience to our customers.
We have a world-class team that is incredibly creative and we have a number of exciting developments planned for 2018 as we look to develop East Coast Concepts into a truly national brand.”
East Coast Concepts, which employs over 300 staff across four sites, was backed by NorthEdge Capital in June 2016 to support its roll-out across the UK. The private equity firm has provided additional funding to accelerate the expansion plans in 2018 as the group actively looks for new locations for both brands.
East Coast Concepts has also continued to invest in its management team with the appointment of Nicky Sellers as operations director. She joins former Individual Restaurants finance director John Hammond and chairman Harvey Smyth, who is also chairman of the Azzurri Group which operates Zizzi and ASK Italian.
Photo by Michelle-Roberts.