A North-East wholesaler has earned its place among the UK’s fastest-growing businesses after demonstrating exceptional resilience during one of the most challenging years in the industry’s history.
Phoenix 2 Retail’s Rapid Growth
Phoenix 2 Retail has been featured in the UK Fast Growth Index for 2024, securing a spot among the top 50 fastest-growing firms in the UK from a staggering 5.6 million businesses nationwide. This recognition highlights the company’s remarkable achievements and its commitment to excellence.
Based in Queens Meadow, Hartlepool, Phoenix 2 Retail supplies a range of smoking alternative products, including vapes and pouches, to prominent retailers across the country, such as Morrisons and Booker. Founded in 2020 by entrepreneur Chris Kelly, the company identified a market gap for supplying the latest independent brands of e-cigarettes to the UK’s major retailers.
Impressive Turnover and Employee Growth
In its inaugural year, Phoenix 2 Retail reported a turnover of £500,000 and has experienced rapid growth ever since. The company now employs 60 individuals and sells more than 50 million vapes annually. If the current growth trajectory continues, Phoenix 2 Retail is projected to achieve a turnover of £200 million by the end of 2024.
Chris Kelly, the founder of Phoenix 2 Retail, conveyed his excitement regarding this recognition: “We are incredibly thrilled to have been honoured as one of the 50 fastest-growing companies in the UK. This achievement represents the culmination of significant hard work and dedication from our team over the past few years.”
Leading the Charge in Compliance and Quality
“It’s even more rewarding to receive this accolade following a period of challenges for our industry. During this time, Phoenix 2 Retail has stepped up and taken a leading role in ensuring that the products we supply come from authorized sources and are fully compliant with regulations. Our commitment to quality is unwavering.”
The company recognizes that there are approximately 6.4 million smokers in the UK, and its mission is to ensure that they can easily purchase smoking alternatives alongside their weekly shopping at their preferred retailers. By doing so, Phoenix 2 Retail aims to help customers enjoy a healthier lifestyle and reduce the risk of developing diseases associated with combustible cigarettes.
Commitment to Innovation and Customer Satisfaction
Phoenix 2 Retail is dedicated to enhancing the customer experience by consistently introducing new products that meet market demands. Their focus on innovation ensures that they remain competitive while catering to the evolving preferences of consumers. By forging partnerships with various suppliers, they aim to diversify their product offerings further, thereby solidifying their position in the market.
Upcoming Recognition Ceremony
The UK Fast Growth Index ceremony is scheduled to take place at the Bloomsbury Big Top in London on November 28. During this event, the specific rankings within the list will be unveiled, showcasing the achievements of the selected businesses.
The ceremony will recognize enterprises from 12 key sectors across seven regions, including London, the Midlands, the East of England, the North of England, Northern Ireland, Scotland, the South of England, and Wales.
Celebrating British Entrepreneurship
Professor Dylan Jones-Evans, founder of the UK Fast Growth Index, remarked, “The companies featured in this year’s UK Fast Growth Index exemplify the pinnacle of British entrepreneurship. Their combined efforts are significantly enhancing economic growth, generating employment opportunities, and influencing the future trajectory of the UK economy.” He continued, “We take pride in acknowledging their achievements and eagerly anticipate disclosing their rankings at the awards ceremony this November.”
