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Cruise to dock in three new towns

Scottish mini-chain Cruise is poised to open up to three stores in the UK this year, growing its portfolio to 14 shops.

Cruise, which already has stores in Harrogate, Edinburgh, Glasgow and Newcastle, is scoping out locations in new UK areas and is looking for sites to open standalone shops in its various formats.

The Glasgow-based independent operates a mix of multi-product stores, denim shops and standalone accessories stores, selling a mix of high-end labels including Gucci, Prada, Marni, D&G and denim label Replay.

The retailer is likely to expand out of its northern heartland, and Cruise finance director Ian Baird told Drapers he was looking at "whatever properties become available and come across our desk".

Arev, the investment company set up by former Baugur UK chief executive Jon Scheving Thorsteinsson, bought Cruise for an estimated £7 million in September last year.

Cruise posted an operating profit of £800,000 last year for the 12 months to February 28, against sales of £17m, according to reports.

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