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Zatchels plans 20 stores in bid to triple sales

Bag brand Zatchels is to open 20 shops in the UK and diversify its product offer as it embarks on an aggressive plan to triple annual sales to £10m within three years.

Bag brand Zatchels is to open 20 shops in the UK and diversify its product offer as it embarks on an aggressive plan to triple annual sales to £10m within three years.

The brand, which has one store - a 1,000 sq ft unit on The Shambles in York - two outlet stores in Leicester and Braintree, Essex, and a booth in Westield London, plans to open two stores this year, up to seven next year and the remainder in 2016.

Zatchels declined to name locations but said the irst store to open this year will be in southwest England. It is not working with a property agent but sourcing sites itself.

Property is one of three main elements of the Leicester business’s three-year plan to become a global leather accessories retailer, devised by non-executive chairman Greg Tufnell, who joined last August. It has already grown from £1m turnover after its irst trading year in 2011 to £3m for the 2013 inancial year, according to documents seen by Drapers.

Zatchels also hopes to drive its wholesale business under head of sales Mike Rankine, who joined in January from Liberty, where he was international wholesale manager. He has been charged with “signfiicantly” growing the number of accounts from 75 UK and 30 international stockists by 2017.

Zatchels made its European trade show debut at Berlin’s Capsule last week and has signed German, Italian, Japanese, Irish, Finnish and Russian agents since the start of the year, from whom “orders are starting to come through”.

Co-director Dean Clarke said growth was dependent on diversifying from satchels into other bag designs. In the past year it has launched men’s messenger bags and women’s styles such as quilted handbags. Clarke wants non-satchels to increase from 50% of turnover to 75% as part of the three-year plan. A tie-up with Tate London, in which bags will feature prints designed by the art gallery, launches in August.

Wholesale prices range from £16.66 for a mini bucket bag to £64.81 for a men’s messenger bag, with a 2.7 mark-up.

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