Reiss boasts double-digit sales growth but profit takes a hit on global roll-out

 
Helen Cahill
Follow Helen
The brand is known for its elegant, up-market designs (Source: Reiss)

Reiss delivered double-digit sales growth last year but the retailer's profit has taken a hit as it continues to invest in building a global presence.

The figures

Reiss' total sales grew 13 per cent over the year to 28 January 2017, rising from £145.2m to £164.5m. Operating profit fell from £17.3m to £15.2m, a drop of 14 per cent, which the company said was due to the opening of new international stores and its investment into an e-commerce platform.

The middle-market retailer opened net 19 new outlets, bringing its total to 179, across 17 countries.

Why it's interesting

Over the past year, Reiss has opened stores in the US, Canada and Australia. The brand, which is known for its high-end evening and workwear, has also been investing in its stores, and making sure its online and physical operations work seamlessly together.

Other British brands in middle-market fashion are looking overseas to boost growth. Shoreditch-based retailer All Saints is now focusing on Asia rather than North America, and is preparing to enter the Chinese market.


Reiss counts the Duchess of Cambridge as a customer (Source: Reiss)

What Reiss said

David Reiss, founder and chairman of Reiss, said: "Reiss continues to grow and develop, benefiting from our excellent product offering together with domestic and international expansion.

"We are pleased that more and more customers are appreciating our offer. With a new chief executive in place and a strengthened management team, we look forward to continuing to invest in the business in order to position it for further growth and development."

Related articles