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Joules aims to double international sales

Joules plans to double its international sales over the next few years to bring it to 20% of group revenue.

The British lifestyle brand reported that group revenue rose 19.6% to £157m for the year to 28 May 2017 year on year – ahead of previous forecasts of £152m.

US and German sales represented 10.6% of total sales. 

Joules chief executive Colin Porter told Drapers: “Our strategy now is to build the brand abroad, where it doesn’t have the 30 years of heritage it has established in the UK.

“We will support this with social media and work closely with our retail partners on marketing strategies.”

Joules launched in 50 branches of US department store chain Dillard’s 330 stores for autumn 16, and has expanded into 60 Nordstrom stores with wellingtons and outerwear for spring 17. It was previously only available online at Nordstrom. 

Porter also outlined plans to develop its nightwear and swimwear product ranges, as well as adding home and gifting categories. He cited product expansion as a “key area of growth”.

Retail revenue at the company grew by 19.4% during the year, and wholesale sales also increased, by 20% on last year.

Porter would not confirm profit figures for the year at this stage but said they are “ahead of expectations”. 

Analysts at Liberum and Peel Hunt have forecast EBITDA of £17m for the 2016/17 financial year.

Joules has opened stores in Northumberland and Ipswich in recent weeks.

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