AllSaints posts 9 percent rise in annual sales
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Marking fourth consecutive year of growth, British fashion retailer AllSaints reported 9 percent rise in sales in the year to January 30, 2016 to 252.5 million pounds (308 million dollars) against last year’s 231.3 million pounds (282 million dollars), says the Fashionmag.com report.
Positive jump in sales at the Lion Capital-owned company, was driven by 7.4 percent growth in the UK to 144.3 million pounds (176 million dollars). International sales witnessed an increase of 12 percent to 108.2 million pounds (132 million dollars), while online sales rose to 47.3 million pounds (57.8 million dollars) from 35.6 million pounds (43 million dollars). Profits before exceptional items increased 18 percent to 28.5 million pounds (34.8 million dollars), it adds.
AllSaints posts sales rise across categories
The company reported positive sales momentum across bags as well as menswear categories. The company attributed rise in handbags sales to the introduction of Capital collection last year under the Creative Director Will Beedle. The line-up was launched in collaboration with Seoul-based handbag specialist Simone.
Though AllSaints is based out of the UK, the label enjoys successful presence across 18 countries with 43 percent of its sales contributed by the international trade, including the US, its largest international market. The company said, North American sales increased 9.1 percent to 83 million pounds (101 million dollars) last year. With sales in Asia rising to 8.4 million pounds (10.2 million dollars), more than triple compared to last year, the company looks forward to non-US international sales become one-third of the total by 2020, with strong presence in almost 30 to 35 countries by then.
Overseas expansion on the cards
AllSaints opened doors to 23 stores outside of Britain, including new stores in the US, South Korea and Taiwan, last financial year, apart from debut launches in the Middle East in partnership with Majid Al Futtaim and Japan. The brand loved by celebrities like Beyoncé, Selena Gomez and Kylie Jenner, also begun selling its clothing via online platforms of department store chains such as Selfridges, John Lewis and Bloomingdales in the US last year and is now in talks with other third party sites to expand its international presence, states The Guardian.
SummaryPicture:Facebook/AllSaints