Seraphine sales and profits soar as international sales prove key
Jun 18, 2019
UK-based maternity-wear specialist Seraphine has reported soaring sales and profits for the 12 months up to March and said that its business remains strong, despite huge challenges in UK fashion retail at present.
The 17-year-old company said Ebitda profits rose 35% to £3.2 million in the period, which easily outstripped the still-impressive 25% surge in turnover up to £22 million for the financial year.
And importantly, online sales now make up 65% of the company's total turnover with much of its e-commerce revenue coming from abroad.
We’ve reported some very well-publicised problems at other maternity brands in recent periods, but Seraphine seems to have come through unscathed. One boost to its business is perhaps that it isn’t competing at the value end of the market. But it's clothing isn't expensive either with middle-market pricing, its dresses retailing for around £49 up to £149 and jeans priced between £50 and £60.
But it's the on-trend and practical design that really seems to have made it popular and to have appealed to some major-league celebrity clients. They include the Duchess of Cambridge, who almost single-handedly thrust the brnad into the public eye during her first pregnancy, plus Anne Hathaway, Mila Kunis, Karolina Kurkova, Sophie Ellis Bextor, Gwen Stephani, Kate Hudson and Marion Cotillard, among others.
As mentioned, the company is selling more of its products abroad and said 70% of its production is now exported, with 40% going to mainland Europe.
While digital is a key focus for the label, it continues to open new stores both at home and abroad. There are currently four stores in London, one in Leeds, two in Paris (the latest one opening only last October) and one each in NY, Dubai, and Hong Kong. And it has recently added its first Indian store with a debut in Delhi.
The company said that Brexit “has in no way hampered the brand’s progress and growth across mainland Europe remains constant.”
CEO and founder Cecile Reinaud added: “At least where our business is concerned, small is beautiful. We continue to execute on a careful, considered and consistent strategy of driving global appeal by combining our A list associations, high fashion, practicality and heritage. We also offer ample evidence that ‘Made in England’ is as powerful a magnet as ever it was, and how a future for Brexit Britain can be truly global.”
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