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Exclusive: Footasylum to roll out womenswear

footasylum women spring 17

Footasylum is planning to roll out women’s clothing to six of its larger stores following a successful online trial and the launch of its first women’s-only store, Drapers can reveal.

Last month the footwear retailer opened its debut women’s-only store at Lands Lane in The Core Shopping Centre in Leeds. It offers clothing from brands including Illustrated People, Glamorous and Daisy Street, and footwear from Adidas, Nike and Puma.

Drapers understands Footasylum is also looking at possible locations in London for its second women’s-only store, to open later this year.

It is also planning to extend its women’s clothing offer to six of its biggest stores – although it declined to reveal which sites – over the next 12 months to capitalise on the growing athleisure trend.

Head of retail Glen Dickinson confirmed the rollout and explained: “We have seen encouraging results [in the Leeds store], paving the way for further expansion.”

The retailer, which has around 60 UK stores, first started selling women’s clothing online in November after stocking women’s footwear for several years.

The move follows the news that Footasylum founders John Wardle and David Makin have hired investment bank GCA Altium to sell a 40% stake in the business, which is expected to be valued at £100m.

Footasylum’s sales rose 41.6% to £110m in the year to 28 February 2016, its latest financial results show, and gross profit increased 36.6% to £48.5m year on year.

 

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