Young fashion chain Blue Inc is gearing up to unveil a London Oxford Street flagship next week after sales and EBITDA soared.
Blue Inc managing director Steven Cohen said EBITDA for the year to December 2008 would reach £1.8 million, on sales of £38m. This is up from £1m EBITDA on sales of £28m in the year to December 2007.
Current trading is also strong, with like-for-like sales up 7% across the business.
The retailer’s performance was boosted by 18 new openings this year including shopping centres Liverpool One and Sheffield Meadowhall, combined with the launch of a new store concept designed by Dalziel & Pow. The London flagship will be opened by celebrity Katie Price on Monday.
Blue Inc’s revamped website is also performing well said Cohen, achieving a 90% sales increase after its relaunch last month.
Cohen said: “Our investment in store design with Dalziel & Pow has paid dividends and the economic climate has helped us in our search for prime space within retail malls and high streets on attractive terms.”
Blue Inc had 28 stores when it was bought by Marlow Retail in a deal led by Cohen in 2005. The chain now has 68 stores and plans to trade from more than 80 units by the end of 2009.