CATH KIDSTON, the quirky British retailer known for its brightly coloured floral prints, said yesterday sales topped £100m for the first time last year thanks to strong demand in the UK and overseas.
The homewares and accessories chain, founded by the eponymous designer 20 years ago, said it now has more stores overseas than in the UK after rapidly expanding into new markets like mainland China.
Group sales increased by 19 per cent to £105m in the year to 31 March, while earnings before interest, tax, depreciation and amortisation rose 13 per cent to £21m, the retailer said yesterday.
UK sales grew by 21 per cent while sales overseas jumped 53 per cent.
“Asia in particularly has been particularly strong. We have been there for seven years but a lot of that growth we have seen in the past few years,” finance director Neil Harrington told City A.M.
“They like the quintessential British part of the brand but they also like the vintage element and the fun and quirky design of things,” he said.
Cath Kidston now has 188 stores after opening 33 in the last year.
It plans to launch a huge flagship in London’s Piccadilly as well as a branch in Shanghai this year.
The retailer is controlled by private equity firm TA Associates.
Founder Cath Kidston owns around 20 per cent of the firm.