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Brand building key to Joules success, says CEO

Strong brand positioning and product is helping Joules defy tough market conditions, chief executive Colin Porter has said.

Group revenue rose by 18.2% to £96.2m for the 26 weeks to 26 November following successful new customer acquisition and a “strong performance” across its autumn ranges.

Porter said: “From a product perspective, we’re engaging a lot of product areas in terms of lifestyle. Outerwear has been particularly strong for us across kidswear, womenswear and menswear.

“In terms of wholesaling we have a strong order book for spring 18 both here in the UK and internationally. We are confident about the year ahead – everything is in place for Christmas, and is playing out as strongly as expected.”

Licensing projects in the pipeline include watches, umbrellas, pet products and stationery. Earlier this year Joules agreed a partnership with furniture retailer DFS on four sofa, armchair and footstool collaborations, which is trialling across 10 DFS stores.

Wholesale revenue grew by 23% to £30.1m, which the business said reflected growth in the autumn 17 wholesale order book.

Joules is in the “early stages” of developing its wholesale relationships with online marketplaces Amazon and Zalando and Porter said the partnerships will provide insight into future growth opportunities.

Porter also indicated the business is on track to double its international revenues by its 2020 financial year, which it aims to do by expanding its existing wholesale and ecommerce presences in Germany and the US.

“There is still massive potential in these markets,” said Porter. “Our partnership with Nordstrom is going from strength to strength, while Dillards is buying more categories from us, having started with kidswear and now expanding into womenswear.” 

 

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