Despite drop in turnover, Scotch & Soda invests in 48 new stores

Against the background of challenging market conditions, Scotch & Soda said, its total revenues decreased by 3 percent to 328,7 million euros (3,608 million dollars). The company added to the statement that it significantly invested in the financial year 2018-19 to further support the transformation of its brand from a Dutch wholesale-only company into an international omni-channel company and completed the acquisition of the Scotch & Soda business in Belgium and Luxembourg, including 24 own stores and wholesale business.

“Since I took office, I have become even more excited about the brand’s strength and potential for further growth. For the first time our direct online and retail business accounts for over 50 percent of the companies’ revenues,” said Frederick Lukoff, Scotch & Soda CEO, adding, “The investments provide the company with a strong and healthy foundation to accelerate its future growth in the global fashion industry.”

The company also focussed on expanding its reach during the year under review with the addition of 48 stores that brings the total to 247 mono-brand stores worldwide. The brand is also available with over 7,000 doors apart from the exclusive stores. The company now employs 1700 people globally, an increase of 21 percent over the previous year.

Picture:Facebook/Scotch & Soda

 

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