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Mavi's profits rise 43%

Turkish fashion retailer Mavi has seen revenues rise by a quarter to £89.7m for the three months to 30 April.

The firm reported a rise in net profits to £4.1m following increased basket sizes.

The company now operates 426 mono brand stores globally and has a total retail selling space of 1.5 million sq ft in Turkey.

Sales of jackets rose by 70% during the period, denim grew 21%, shirt sales grew by 40%, knits by 40% and accessories by 23%.

The firm plans to open a total of 25 stores in Turkey in the fiscal year. The company currently has no UK stores.




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