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AllSaints sales shoot up

Sales at AllSaints leapt by 20% to £303m in the year ended 28 January, but its profits slipped as it invested in entering Japan.

UK revenue was up 11.5% to £160m, while international sales were up 31% to £142m. This accounted for 47% of all sales, up from £108m in 2016.

Asia was its fastest-growing region, with sales up 135% to £19m, while the US was the largest international region with sales up 22% to £103m.

Global digital sales were up 21% to £57.4m, representing 19% of total business mix.

EBITDA before exceptional items was down 9% to £26m, which the retailer attributed to start-up and pre-opening costs associated with its entry into the Japanese market, as well as investments in technology and its new travel retail channel.

During the year AllSaints entered the travel retail market in South Korea, with stores at Incheon International Airport, Shinsegae Duty Free and Shilla IPark Duty Free.

AllSaints’ wholesale and franchise operations more than tripled in size, with new franchises in Turkey, Chile, Peru and Mexico building on last year’s Middle East launch with Majid Al Futtaim.

Global directly-operated retail operations contributed 96% of total business, while franchise, wholesale and the travel channel contributed the remaining 4%, a fourfold increase on the prior year.

In the 12 months AllSaints opened 74 shops, concessions and franchises globally, bringing its number of stores up to 243 in 27 countries.

AllSaints CEO William Kim said: “This has been another period of significant progress for AllSaints, and represents our fourth consecutive year of growth. The international expansion of our business has continued at pace, with sales from non-UK operations now accounting for nearly half of the group’s overall revenue.”

He added: “While there remains some uncertainty in some of the markets in which we operate, we continue to believe that the strength of our brand and the talent of our people mean that AllSaints is very strongly positioned for the future.”

 

 

Readers' comments (2)

  • Great defiant retailer, always stays on message and sticks to it's mantra, a brand that many aspire to wear which is represented in the quality of the garments it sells.

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  • Success has many Fathers, but nowadays ownership is a major key to success or failure of a brand.

    Lion Capital clearly providing a fertile environment for growth and also patience. Rare in PEs.

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