JOUL.L Regulatory News (JOUL)

15th August 2022

Joules Group PLC

("Joules" or the "Group")

Appointment of CEO

The Board of Joules, the premium British lifestyle Group, is pleased to announce that following a thorough selection process, Jonathon Brown will become the Group's new Chief Executive Officer (CEO). This follows the Group's announcement in May 2022 that Nick Jones would be stepping down from the role during 2022. Jonathon will initially join the Group as CEO designate on 7th September 2022 and will become CEO on 30th September following a short handover period from Nick.

Jonathon is a proven leader with a strong track record of improving performance and implementing strategic transformation programmes across several digital and retail businesses. He started his career in various marketing and digital roles, including at Schroders, British Airways and Coca-Cola. He has held senior positions at Aviva, where he was Head of e-Channels, Kingfisher, where he was Director of Multichannel, and John Lewis, where he was Omnichannel Director. He was previously CEO of MandM Direct, where he executed a successful turnaround plan, and COO of Photobox Group, where he led the strategic, commercial, and organisational transformation of the Group, working across the brand portfolio including PhotoBox and Moonpig. Most recently, Jonathon was CEO of Compare the Market, part of BGL Group, where he led the business through a successful period of strategic transformation and growth.

Jonathon Brown commented:

"I am delighted to have been selected to lead Joules at such an important time in its development. Joules is a very strong brand, with a highly relevant purpose and product proposition. The Group's digitalisation in recent years as well as its increased customer base mean it has very solid foundations for the future.

"Whilst there have been some headwinds in the past year, I am very excited by the business' future opportunities. The Group is making strong progress against its clear plans to improve profitability by simplifying the business and optimising the cost base. I look forward to working closely with the Joules team to return the business to sustainable, profitable growth and optimise the significant future opportunities available to us."

Ian Filby, Non-Executive Chairman of Joules, commented:

"The Board was in unanimous agreement that, amongst some very high calibre candidates, Jonathan was the standout choice to be our new CEO. He has significant experience across the retail and digital industries, a proven track-record of delivering business transformation, and the vision and ambition to lead Joules through the next stages of its development. The Board has every confidence in him, and we look forward to working closely together over the coming years.

"I would again like to place on record the Group's thanks to Nick for his contributions during his time with Joules, and in particular his continued outstanding commitment and drive over recent months. Under Nick's leadership Joules has made good progress against its strategy to develop as a digital-led lifestyle group and, more recently, he has spearheaded the implementation of several important strategic initiatives that the Board believes will underpin the Group's future success."

Appendix:

· Jonathon's full name is Jonathan Iain Carlton Brown and he is 51 years old

· Jonathon has no current directorships

· Past directorships in the last five years: Compare the Market Limited

There are no further disclosures to be made in connection with the AIM Rules for Companies in connection with this appointment.

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Joules - a premium lifestyle group with an authentic British heritage

Joules is a premium lifestyle brand and group with an authentic heritage and values of family, fun and joy in the countryside. Joules creates and curates exceptional products that brighten the lives of its customers, delivered through leading digital platforms and supported by enticing experiences and stores that are located in desirable locations relevant to the Joules customer's lifestyle. 

The Joules story began in 1989, when Tom Joule started selling clothing on a stand at a country show in Leicestershire. Today, the business designs and sells Joules-branded clothing, footwear and accessories for women, men and children as well as collections of homeware, toiletries, lifestyle and pet product ranges that are carefully designed and developed through selected licensing partnerships. Each collection comprises Joules' distinctive use of humour, colour and unique prints, each of which is hand-drawn by the brand's talented in-house print design team at its headquarters in Market Harborough, Leicestershire.

In 2021, Joules acquired leading digital home and garden retailer The Garden Trading Company, strengthening its position in the important and fast-growing home, garden & outdoor category. Similarly inspired by the British countryside, Garden Trading designs and sells distinctive products through its own e-commerce platform and many wholesale partnerships across the UK.

Joules' distinctive design-led products are complemented by an increasingly broad customer offer provided through its digital marketplace 'Friends of Joules' that enables third-party brands to offer curated, complementary products to the Joules customer base, enhancing Joules' digital platform with thousands of products from hundreds of creative businesses to give customers everything they could ever need for a contemporary country lifestyle.

The Joules group caters to its 1.9 million active customers through its own digital platforms, its retail stores in the UK and at country shows and events. Joules extends its brand reach through well-established third-party relationships - concessions, online marketplaces, and traditional wholesale.

www.joules.com

www.gardentrading.co.uk

www.joulesgroup.com