Entrepreneur from Nunthorpe explains how former life as a property developer led to the idea for his winning business
A Teesside businessman’s luxury bathroom firm has seen a massive eight-figure surge in sales during lockdown.
Lusso Stone’s figures are up £12 MILLION in six months.
The Middlesbrough-based business is adding 80 new customers a day and sells 2,500 products a week.
Owner Wayne Spriggs says he started the business with nothing but a £10,000 overdraft and no investors.
Three years on, he’s supplied some of the world’s top buildings from Claridge’s to the London Trocadero, featured on Grand Designs – and is a Sunday Times Fast Track 100 company.
Wayne is planning a UK flagship store and a US launch in 2021.
But he says his former life as a property developer gave him the winning idea for the business.
Wayne, who still designs many of the Lusso product ranges himself, says: “Before founding Lusso Stone I was a luxury property developer and I continually struggled to find high-end, luxurious bathroom products.
“I wanted products that stood out and weren’t astronomically expensive.
“It seemed ridiculous to me that there just wasn’t a company out there that did it.
“So I decided to do it myself.”
The company both manufacturers and sells its products, which keeps prices affordable, Wayne adds.
Lusso Stone has seen 400% growth in revenue in three years, has a customer base of over 54,000 and attracts 80 new customers a day on average.
In October 2020 Lusso reported their best month with £2.45m sales.
Products go around the globe including Sydney, the Middle East, New York City and LA.
“I travelled the world visiting various trade shows, learning about products and building relationships, which all helped me build the vision for what I wanted the Lusso product ranges to look like,” Wayne adds.
“For me, it was about allowing people to create luxury living at an affordable price, cutting absolutely no corners on the quality and design of the products.
“Manufacturing the products ourselves means we can offer products that would ordinarily be around 60% more expensive to consumers, via our online shop.
“I started the business with a £10k overdraft – no loans and no help from investors.
“At the end of the day, it’s all about the product itself.
“Yes we need to provide a great customer experience but it’s the product that will be in the customer’s home or the hotel’s bathrooms for years to come and they need to stand the test of time.”
Wayne is also currently included in the Lloyds Banking Group Top 50 Most Ambitious Business Leaders.