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Reiss doubles profits as it heads for best ever year

Reiss doubled its profits in the year to January 31, 2014, which it attributed to introducing a better pricing architecture and rolling out its new store concept.  

Group EBITDA doubled to £9.2m, while UK EBITDA rose by 42% to £10.2m during the period. Sales excluding franchise retail were £116m, up from £106m the year before.

Reiss said it is has seen a double-digit increase in like-for-like stores sales in the year since, meaning it is heading for its “best year ever” in 2014.

The premium retailer has 130 stores in 15 countries and plans to open four in the Philippines in 2015, as well as its first Canadian store. Other international openings next year will include franchises in India and a flagship in the World Trade Centre, New York City. It is also exploring options in Europe and Australasia.

The business has rolled out its new, more minimalist retail concept, featuring trestle tables and geometric patterning, to nine stores in the UK and internationally so far.

Reiss.com has seen like-for-like sales grow 35% and the retailer is investing in a new platform and systems for 2015.

It said the appointment of its first creative director in December 2012 (promoting menswear director James Spreckley into the role) ensured more consistency across Reiss’s design and campaign imagery, through to stores and ecommerce.

Reiss fragrances were successfully launched at the end of the year and further licensing opportunities are being explored.

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