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Barbour Breaks All Time Sales Records Despite Declining Profits

Image Source: William Barton / Shutterstock

Barbour achieved its highest-ever sales last year due to successful collaborations with high-end fashion brands, attracting a new generation of customers.

The luxury retailer partnered with renowned names like Gucci and Ganni to rejuvenate its brand. Additionally, collaborations with fashion label Chloe and model Alexa Chung contributed to a nearly 20% increase in sales, reaching £343m during the year ending April 2023.

Barbour’s managing director Steve Buck acknowledged the impact of the ongoing pandemic on their supply chain and the economic repercussions stemming from the cost of living crisis and the war in Ukraine. He highlighted the challenges posed by factors such as high-cost pressures, exchange rate fluctuations, and intense competition, which have affected margins across all channels and markets.

Buck also mentioned that the coming year is expected to be challenging due to the cost-of-living crisis, market contractions, increased inflation, and the global uncertainty caused by the wars in Ukraine and the Middle East. He reassured that there are no plans for further price increases, emphasizing the brand’s commitment to providing value to customers without raising prices in line with cost escalations.

Barbour had to raise prices in February 2023 as a response to escalating production costs and decreased consumer spending, facing what Buck described as “extraordinary challenges.”

Image Source: William Barton / Shutterstock

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