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Drapers Top 100 2016 – 43. Philip Day, chief executive, Edinburgh Woollen Mill



Retail tycoon Philip Day, who owns 100% of the Edinburgh Woollen Mill Group, jumps up the Top 100 this year after EWM bought stricken retailer Austin Reed out of administration in May this year.

It now owns the Austin Reed name, stock and five concessions in Boundary Mill Stores. After relaunching the menswear brand online in September, the Edinburgh Woollen Mill Group is preparing to open the first new Austin Reed stores towards the end of 2017, targeting around 50 sites over three years.

The group is also planning to open 200 stores over the next 18 months for its fascias, which include Peacocks and Jane Norman, and has acquired Country Casuals and Viyella, which it will relaunch in existing Edinburgh Woollen Mill stores. Edinburgh Woollen Mill Group opened 43 new stores in the UK and Ireland for the year to 28 February, when sales rose 2.4% to £576.3m and profit before tax and exceptional items also increased by 2.4% to £90.9m.

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