News

London's Leon reports skyrocketing sales

May 14, 2019

London-based Leon reported that sales skyrocketed 24.5% to £95 million ($122,730,975) in the 12 months ending 31 Dec., 2018. 

"It is encouraging to see that what we set out to do as a business when we started in 2004 — to deliver naturally fast food that is good for you while being good to the planet —  is proving popular with guests not only in the UK where we started, but now also overseas," CEO John Vincent said in a press release about the brand that he co-founded in 2004. "We took some big steps in 2018 to take the LEON concept to new markets including the US and Ireland, and this expansion will pick up further pace in the year ahead."

Leon, which has 63 restaurants across the UK, Europe and the USA, has a goal of reaching every major city in the world and started its global push in the USA and Ireland, Vincent said. Leon chose Washington D.C. as the home of its first American restaurant, opening in 2018, and has plans to launch several others there in the near future. Plans also call for 20 restaurants to launch by 2023, in Irish cities with the first restaurant opening in May in Dublin's Temple Bar.

"We have all seen the struggles being faced by the casual dining industry, with cautious consumers choosing carefully at the same time as businesses contend with increased costs, and so we take nothing for granted," Vincent said. "However, seeing the business deliver 18 consecutive months of like-for-like growth whilst opening a further nine restaurants shows we're responding to the challenge in the right way."

Despite its global focus, Leon isn't forgetting the home front. It will open 15-20 restaurants in the next year throughout a variety of English cities, including Wimbledon, London's South Bank and Leeds, according to the release.

Financial highlights 

• Fifth year of unbroken revenue growth, more than quadrupling in size in that period.
• Like-for-like sales UP 15.2% (2017: +0.9%).
• Adjusted EBITDA remained steady at £3.5 million ($4.2 million), despite funding U.S. start up
• Adjusted UK EBITDA UP 8.3% to £3.9m  ($5 million)
• International sales UP 102% and now account for 10.6% of sales

The future is sustainable
Sustainability is a huge focus at Leon; plant-based options make up the majority of its menu, for example, and it removed plastic straws in April 2018, taking 1.3 tons of plastic out of its restaurants. It also introduced bio-degradable cutlery and sources its own energy, prompting the Sustainable Restaurant Association to give Leon 3 stars, its highest possible rating.

Customers, apparently, are fans of the initiatives. In January 2018, 46% of sales were vegetarian and 34% vegan. By January 2019, those sales were up to 64% and 55% respectively.

To maintain the momentum, Leon has launched a Plants Aren't Just for Veganuary campaign, which included the debut of the LOVe Burger, a completely plant-based patty. More vegan and vegetarian options will also hit the throughout the year.