A BUSINESS has been acknowledged as the region’s fastest-growing company.
Lusso Stone, based in Middlesbrough, has ranked 18th nationally in the Sunday Times Virgin Atlantic Fast Track 100 league table of growing private companies.
The luxury bathroom retailer is a new entry to the table and has been ranked top overall for the North-East.
Over four years, the business has sold showers, baths and basins to high-end hotels such as Claridge’s in London and the Sugar Beach Residences in St Lucia.
It’s sales have grown by an average of 105% a year and reached £8m this year.
Lusso Stone’s Director, Wayne Spriggs, said: “At the moment I am still stuck for words. I am absolutely blown away by this.
“I only started this company four years ago and to be ranked 18th in the country and first in the North-East is a huge achievement for me, my family and the guys in the office.
“I’d like to personally thank Mike Whitfield, our Directors Associate, and Neil McLaughlin, Operations Manager, for the countless hours and effort over the last few years. We have all strived to get to this level and aim to continue the company’s growth in 2019.
“Our plans for Lusso Stone in 2019 is to launch six new multi-currency International websites such as USA, France, Norway and Italy. These new websites should hopefully take our turnover to around £30m which could even see us ranked number one in the UK for 2019.”
The Fast Track 100 league table is compiled by an Oxford-based research and networking events firm and ranks Britain’s private companies by their growth over their last three years.
Lusso Stone appears on the list with Newcastle-based company END. – an online men’s retailer which placed 69th and has appeared on the Fast Track 100 for three years in a row.
Also featured on this year’s league table is burger chain Five Guys, beauty products retailer Charlotte Tilbury Beauty, and BrewDog.
To have a chance of appearing in the table, companies have to be registered in the UK and be independent, unquoted and ultimate holding companies where total sales exceed £5m.