Hot Tuna like-for-likes rocket
- Published: 29 May 2008 12:41
- Author: Emily Seares
- More by this Author
- Last Updated: 29 May 2008 12:58
- Reader Responses
Surfwear clothing brand Hot Tuna's like-for-like sales in the UK and Europe rocketed 454% to £554,000 for spring 08, following a brand overhaul.
Group like-for-like sales increased nearly fourfold to US$2.11m (£1.07m) compared with US$593,000 (£300m) last year. The group put strong sales down to a restructuring over the past six months, which has seen a new management team redefine the Hot Tuna brand, as well as overhauling its product style and design. It has also secured major orders from key department stores worldwide, including House of Fraser, David Jones and Myers.
The retailer said its focus on being a fashion brand, rather than strictly surfwear, had led to opportunities in new markets including Japan, Germany, China, Mexico and Scandinavia.
Niels Juul, chief executive of Hot Tuna, said: "We are now well positioned to take Hot Tuna to the next stage of its development. Our initial strong results from our first retail store in the US as well as our continued success with our 15 shop-in-shop Hot Tuna concept stores in Myers has given us great confidence in our upcoming strategy of expanding into freestanding Hot Tuna retail stores and in-store concepts."
