Danish womenswear brand The Masai Clothing Company has reported an 8% increase in sales year on year to DKK 398m (£45m), in the firm’s first annual results since it was sold.
Masai was acquired by private equity group Silverfleet Capital for an undisclosed amount in June 2015.
The firm did not provide a figure for underlying profits before costs, but said they were up “slightly” despite “heavy investments in central overheads to support growth.”
Masai made a net loss of DKK 28m (£3m) for the year, driven by costs connected to the sale of the group as well as financing costs and amortisation of goodwill.
The brand said the strongest increases in sales were in the UK, Germany, Sweden, and Switzerland.
Masai’s own shops in Denmark, Sweden, and Norway contributed 25% of total sales. During the year, the brand opened four new shops and launched its own transactional website.
The group said it expects to continue the growth in the coming year based on the increase in orders from its wholesale customers, especially on the export markets, as well as through opening more stores and increasing sales through the group’s website.
Masai is sold in 1,300 independent retailers and department stores in 25 countries, including France, Germany and the UK. In the UK the brand has around 300 stockists.
Wholesale prices for the brand range from £12 for a jersey top to £70 for outerwear.
During the finacial year Masai appointed former Gerry Weber UK country manager Christian Lawaczeck as its new head of UK and Ireland.
The firm also won Womenswear Brand of the Year 2015 at the Drapers Independents Awards.