Reviewing The Last (Financial) Year At Witch Hat

As many of you, know this Sunday not only marks Easter Sunday but also the end of the financial year. So as our bookkeeper is frantically trying to make sure everything is as it should be, we wanted to reflect on the past year – well at least the financial year.

Coming out of last April things were looking good, we’d recently launched our new website and things were on the up for us, but other than that, the first half of the year was fairly quiet. The second however, not so much.

In September, we hired our newest customer service rep, Jon who many of you will have spoken to over the phone. Having just finished a history degree, we saw that he had a passion for music and thought he’d be a great addition to the team. We’re amazed at how far he’s come in this time, but most importantly he’s now realised that £150 headphones aren’t that ‘high-end’ in the HiFi world!

Then we released a series of new products and modifications. The first of these was our 82 Superlink Upgrade which pushes the 82 up into the league of the 52. Whilst this is quite an overhaul, 8 people trusted us (including the first who let us work on this based on a theory…) and they’ve all been wowed by the difference! One who had a 282 even said he preferred it to a 252 and whilst we won’t go that far, we’re pleased that he’s happy.

Next was the pre-release of our Phantom Speaker Cable – a pet project of mine (Mitch). Whilst I know the expected time frame slipped away from us, this was in part due to the unexpected amount of orders that we needed to fulfill and our unwillingness to cut corners. I can only assume our customers loved it as we’ve sold around 60 and not had a single return! May of those people already had N2s and several have compared it to Naim’s £2000+ SuperLumina which has really amazed the team.

It was also around this time that our part time engineer JJ, another ex-Senior Test Engineer at Naim, was made redundant and wanted to work full time for us. We were happy to support him in this as it’s lead to himself and Mark – our founder – researching a lot of interesting new products and upgrades

JJ then, with our help, setup Dark Art Electronics and has since launched the Newt upgrade for Hicaps, Supercaps and a few other things. He also has upgrades coming for 180s, 250s and 135s that are sure to be just as good, with a few other things on the way that we’re keeping secret for now.

Unfortunately, all this success has a downside as we’ve been pushed over the VAT threshold. Since we’ve always been a direct to consumer company our margins aren’t big enough to take a 20% hit and as such we’ll be raising our prices. We will also take some time to tweak the cables and improve cosmetics but if you want a steal this weekend you can find all our cables not only at their original price but with an additional 10% off. This is the last time our prices will be this low.

3 thoughts on “Reviewing The Last (Financial) Year At Witch Hat

  1. Azman says:

    Congratulation. Your service is top class eventhough I am from Malaysia. Continue the good support and surely your business will continue to grow. Well done.

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