Moonpig has announced that Nickyl Raithatha will step down from the role of Chief Executive next year once he serves his twelve-month notice period.
Raithatha joined the online retailer in 2018, after founding and leading the Finery London fashion brand. Under his leadership, the business floated on the London Stock Exchange in 2021 and has strengthened its position as a leading retailer of greeting cards and gift items.
The company said it had started the search for his successor.
Moonpig Chair Kate Swann commented: “Nickyl leaves the Group in a strong position, with the Group’s FY25 results showcasing another year of strong earnings growth and high free cash flow. The Board remains confident in the opportunities ahead.
“Nickyl has built a seasoned leadership team that will drive strong execution continuity during the transition. We are well prepared from a succession perspective and will continue to work closely with Nickyl as we look to appoint his successor.”
The announcement was made alongside the release of Moonpig’s annual results. Over the year to 30 April 2025, the group’s total revenue rose 2.6% to £350.1m. The Moonpig brand grew 8.6%, helping offset a 4.7% decline in its Greetz unit.
Adjusted EBITDA grew 1.3% to £96.8m, although margins edged down 0.4pts to 27.6%.
Moonpig and Greetz saw active customers grow to 12.0m (April 2024: 11.5m), with both brands increasing their customer base in the second half. Total orders grew by 4.1% with average order value rising by 2.1%.
“Our performance reflects the power of our business model and the benefits of our sustained investment in technology, data and AI to help our customers express themselves in ever more meaningful and personalised ways,” said Raithatha.
He added: “We have maintained strong trading momentum since our year-end, with Moonpig delivering its biggest ever Father’s Day, exceeding sales at the peak of lockdown in 2020. Looking ahead, Moonpig Group’s clear market leadership puts us in a strong position to capitalise on the long-term shift to online.”
