Queen Elizabeth Thanked By Sex Toy Retailer Lovehoney That She Helped By Giving Them A Prestigious Award
Lovehoney, the sex toy company that has “penned deals” with E.L. James, the Fifty Shades of Grey author, as well as bands Motörhead and Mötley Crüe, and the Comedy Central hit show Broad City, have the Queen to thank for their increased success.
According to the Bath Chronicle, the founders of Lovehoney, Richard Longhurst and Neal Slateford, received the Queen’s Award for Enterprise in 2016. Both men met Queen Elizabeth and Prince Philip at Buckingham Palace to accept the prestigious award.
Many may wonder whether the Queen or Prince Philip had any comments or questions about the Lovehoney products, but it appears that the duo did not share any such gossip or retell any conversation they may have had with the royal couple that is celebrating their 70-year anniversary.
Instead, they shared how they have managed to make their 15-year-old business such a huge success: by keeping costs down by keeping it an online-only business. This allows them to have worldwide customers, with the magic of the worldwide internet.
During this era of dramatic negative change to traditional retailers, their online business model is forward thinking, and it is paying off. They proudly reveal that their pre-tax profits have “surged by 76 percent.” Neal explains that being online only has kept them ahead of the competition.
“Our online-only model gives us significant advantages over more traditional rivals and will allow us to keep prices and costs low in what is a tough period for all retailers.”
One point that Neal did not mention is that online is a more discreet way for those seeking to purchase sex toys, unlike the potential embarrassment or discomfort of walking into a store.
The Bath-based business owner Neal spoke to their local paper about their increased success and added bonus of the Queen’s Award For Enterprise.
“It’s wonderful to be celebrating our 15th birthday with record sales and profits and the royal seal of approval.”
The Lovehoney owner credits the Queen for the increased international success of the company. In the past year, the increase of international sales outside of the U.K. and the E.U. was a 71 percent increase, with most of that traffic from the United States and Australia. Even the announcement of Brexit has not diminished their international sales.
“We would like to thank the Queen for recognising our achievements – that royal recognition has really helped us to grow the brand overseas.”
Perhaps the biggest indicator that Lovehoney should continue to enjoy more success is that they have tapped into the coveted Millennial market. Many worldwide brands have failed to garner the attention of these particular consumers.
Bath-based Lovehoney received the Queen’s Award for Enterprise last year for boosting UK exports. https://t.co/2olep0XwIk
— Bath Echo (@BathEcho) November 7, 2017
Neal credits Queen Elizabeth’s prestigious award as a reason for their success, as well as partnerships with some Millennial-centric brands such as Fifty Shades and Broad City.
“That sea change in attitudes is reflected in our Queen’s Award and the success of branded lines with some of the world’s biggest rocks bands, Fifty Shades and a TV show in Broad City which really speaks to Millennials.”
What do you think of Lovehoney’s award from Queen Elizabeth? Do you think that knowing that Lovehoney received the Queen’s Award For Excellence that this would influence your own purchasing decision?
[Featured Image by Chris Jackson/WPA Pool/Getty Images]
