AllSaints has achieved another record-breaking year in terms of revenue and profit.
The fashion retailer’s sales and John Varvatos (its American subsidiary brand) rose by 0.6 percent to £459.5 in the 12 months ending February 3. Operating profits increased 18% to £68.9, a rise of 18%. The net cash position at the end was £58.1million, compared to £46.8million at the same time last year.
Peter Wood, the chief executive of the group, stated that the performance of the group was underpinned with “amazing” products, which retail for £29 for an sleeveless top up to £799 a studded leather jacket. He also said it would be “easier for the customers to enjoy and access the brand” by wholesale trading through department stores, multi-brand platforms online, expanding the group’s licensing partnerships, and opening new shops with franchise partners.
“We are especially pleased that by focusing on expanding our wholesale franchises and licensing partnerships across the globe, we reach more customers than before,” he added. This has also helped the group to reduce its promotional activity and markdowns.
AllSaints’ non-retail revenue, which includes wholesale, franchising and licensing, increased by 18.4% to £77million last year.
AllSaints is celebrating its 30th anniversary this year. It was named for All Saints Road, a street in Notting Hills, London. In 1997, it opened its first standalone shop off Carnaby Street. Spitalfields is located in east London and has about 2,000 staff. It operates 230 shops and concessions across Britain, Europe and North America. Lion Capital is the British private equity company that bought the company in 2011 and now owns the company.
The company continues to invest in existing and new stores. In March, it launched a new design concept for its Trafford Center outlet in Manchester.
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