Strong UK and growth in Germany and Thailand help drive Radley festive sales
today Jan 17, 2017
UK handbag and leathergoods brand Radley saw its fourth consecutive year of growth in the six weeks to December 25 as its domestic business stayed strong and international expansion helped drive revenue growth up more quickly.
Comparable sales rose 9% while global e-tail rose 18% and store sales rose a healthy 6%, despite tough times on UK high streets.
The company did not comment on margins so we won't know about profitability for some time yet. Like many other fashion businesses, it ran price promotions pre-Christmas alongside full-price merchandise.
CEO Justin Stead said that as well as building its domestic business there has been a drive for international openings in Germany, Turkey, Dubai and Thailand over the last six months “and these are delivering results above our expectations.” He added that the “business and brand continue to gain momentum and there are multiple product and marketing enhancements coming throughout 2017.”
The affordable luxury company celebrates its 20th anniversary next year and was last year was acquired by private equity firm Bregal Freshstream, which is backed by the billionaire Dutch Brenninkmeijer family that controls C&A.
It currently has 31 UK stores and concessions in department stores John Lewis and House of Fraser, where it is a strong seller. The online growth has allowed it to expand to 47 countries in total.
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