Premium retailer AllSaints is to embark on an aggressive expansion programme as it returns to profitability.
Lion Capital, the private equity firm that rescued the 57-store retailer before it filed for administration last May, told Drapers the first 18 months of its ownership were being spent making necessary “operational improvements”.
But Lyndon Lea, partner at Lion Capital, said AllSaints was gearing up for a new growth phase, with plans to open about five more stores in the UK, double its store count in North America to around 25 and open a further 15 stores in continental Europe. It is hoped this will triple AllSaints’ revenues over the next seven years.
At present AllSaints has just six stores on the continent, and the new strategy will target key capital cities.
Lea said potential locations could include Vienna and Munich, as well as Knightsbridge in London. However, he insisted nothing was confirmed and would not be drawn on a timescale.
He was similarly tight-lipped about potential locations in North America.
“If you look at the footprint of the major populations in the US as well as where we already have stores, it would be very obvious where we would look to open,” he said, although he hinted that in Canada cities like Toronto and Vancouver were possible targets.
Lea said the business was also considering launching in Asia, but described this as a longer-term strategy: “Finding sites and negotiating the right deals is quite a time-consuming process so it will take us some time.”