The fashion label AllSaints has achieved another impressive milestone, with profits soaring high. Operating profits jumped by 40%, reaching £39.9 million, while EBITDA increased by 18%.
Group sales, which also encompass the luxury menswear brand John Varvatos based in New York, saw a slight uptick of 0.6% to £459.5 million. The core brand AllSaints similarly experienced a 0.6% increase in sales, totaling £393.5 million.
The retailer noted that the robust financial results were attributed to a decrease in promotional activities and markdowns, along with a shift in sales strategy that emphasized growth in wholesale, franchise, and licensing avenues.
This success has enabled the fashion brand, celebrating its 30th anniversary this year, to connect with more consumers than ever before.
“We are thrilled to report another record-breaking performance for the third consecutive year,” remarked AllSaints CEO Peter Wood. “We are especially happy that our strategic emphasis on expanding our wholesale, franchise, and licensing agreements globally is allowing us to reach a broader customer base than ever.”
Throughout the year, the company has launched several new products, including a fragrance range, a children’s line named smAllSaints, men’s tailored clothing, and a selection of eyewear.
AllSaints is committed to investing in both new and existing stores, as well as enhancing its technological framework to improve the customer experience.
The fashion retailer now operates in 27 countries, and in July, they inaugurated a new distribution center in the Netherlands to facilitate further growth across Europe. Wood expressed that the brand feels “more confident than ever about our future opportunities.”
Image Source: AllSaints.com
