Four Marketing, which distributes brands including Stone Island and CP Company, has seen operating profits climb 8% in the first quarter of the year despite being hit by customer administrations and the weak sterling.
Four Marketing managing director Gino da Prato said that although the administration of designer mini-chain Cruise, a key customer, and the weak sterling against the dollar had affected business, the agency was in good shape.
Da Prato said that Four Marketing had recently struck a deal to re-supply with Cruise, which was rescued from administration by its management last month. There had been speculation that the agency was owed money by, or was holding stock intended for, Cruise when the chain collapsed, which had put pressure on the business.
However Da Prato said: “Cruise is one of our biggest clients and we are an important supplier to them. We have an outline agreement and we are very happy.”
He added: “Our balance sheet is very strong and we have £5 million of assets including property freehold, a good working relationship with banks and facilities in place.”
Four Marketing is also planning to refurbish its Stone Island and CP Company store in London’s Beak Street. Its ecommerce site Oki-Ni was on track to achieve sales of £3.5m this year, up from £1.8m.
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