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New stores help profits grow at Rigby & Peller

Luxury lingerie retailer Rigby & Peller reported sales up by 4.7% to £9.7m and gross profit grew by 6.2% to £5m for the year to December 31 2014.

The company opened its first northern store in Harrogate in January 2014 and a store in St John’s Wood in London in December.

The company started centralising its online business at the headquarters of its parent company Belgian lingerie business Van de Velde, which resulted in a loss of £141,000. Van de Velde, which bought a majority stake in the business in 2011, made a transfer of £1.5m to Rigby & Peller following the results.

The company reopened its flagship in London’s Knightsbridge in June after a six-week refurbishment. The 1,650 sq ft store now features a dedicated made-to-measure area and a 3D mirror.

Rigby & Peller has 10 UK stores, as well as two in Germany, two in Denmark and two in Hong Kong. Earlier this month it opened 13 stores in the US, including one on Fifth Avenue in New York.

It targets 30-something professional women, stocking 23 lingerie, sleepwear and swim brands including its eponymous own brand, PrimaDonna, Marjolaine, Simone Pérèle and Aubade. Retail prices excluding its made-to-measure service range from £57 for a bra to £300 for a silk nightgown.

Managing director Ella Hitchins, who was retail development director at Ralph Lauren for almost four years before joining the lingerie business in March 2014, told Drapers last year that the business is looking to increase the number of UK stores to between 30 and 40 in the next five years.

@Tara_Hounslea

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