Joseph is set to open its first own-brand menswear store on London’s Savile Row in January, as it embarks on an ambitious international expansion plan.
Joseph spring 16
The 1,180 sq ft store, located at 2 Savile Row, has been designed by architects Sybarite and is understood to be a sub-let of Gieves & Hawkes’ Kent & Curwen store. No other details have been revealed.
It has a menswear store on Sloane Avenue in London, which sells its own and third-party designer brands. The new store marks a move forward for its menswear collection, designed by creative director Louise Trotter and head of menswear Mark Thomas.
The premium brand and retailer has more than 100 stores globally and opened its first store in Beijing this year, followed by a second in the city at the start of this month. It has a further 13 stores slated for China in the next five years.
The company will open its first store in Singapore on December 10, and will open second stores in Singapore, the UAE and the Philippines in 2016.
At the end of next year, Joseph will open its fourth store in the US in Miami, adding to two in New York and one in Los Angeles.
The new stores will offer Joseph women’s and men’s ready-to-wear collections and accessories, with a shopfit designed in its signature monochrome palette and minimalist style.
Joseph was founded by Morocco-born Ettedgui Joseph, who opened the first womenswear store in London’s Chelsea in 1972 and introduced menswear in 1997. In 2005, he sold the business to Japanese firm Onward Kashiyama for £140m.
According to the latest results filed at Companies House, Joseph had 16 UK stores, 14 UK concessions, one Irish concession and two restaurants for the year ended November 30 2014.
During the period, turnover increased 2% to £63.2m from £61.7m and the group delivered a 2% increase in sales from all its channels despite closing a 7 For All Mankind store it operated in partnership on Westbourne Grove and its London City House of Fraser concession. It made a pre-tax profit of £4.2m in 2014, up from £785,712 in 2013.
Joseph made £42m of its sales in the UK and Ireland and £21.2m in the rest of the world.