- Angela Gonzalez-Rodriguez |
The market has its hopes set on Quiz, as the Scottish fashion chain is expected to continue the strong sales momentum it has enjoyed since November.
Quiz is posed to be a fresh breeze for struggling high street retailers in the UK, which have gone through a harsh Christmas.
Glasgow-based Quiz, which in July became one of only a handful of Scottish firms to float in recent years, reported in November that sales were running at almost a third higher than the previous year with online investment in particular paying off with a 204.6 per cent rise in sales in the first half.
In a recent interview, the company’s founder summarised the firm’s strengths: “In 2017, we remained focused on our plans for growth which we outlined at the time of the IPO and we are seeing strong growth across each of the brand’s distribution channels, most notably online and international.”
Quiz to throw some light upon battered UK high street
The Scottish apparel retailer said back in November that they were enjoying a strong tailwind, especially in regards to their digital and international sales channels. Tarak Ramzan, the company’s Founder and Chief Executive Officer, said back then: “We are pleased to report a for the Quiz brand in the first half of the financial year with strong growth delivered across each of the brand's distribution channels, most notably online and international. Current trading has remained strong since the period end and, underpinned by our strong collections, the group enters the important Christmas trading period with good momentum."
Before the close of the year, the Glasgow-based firm said group revenue increased year-on-year by 35.2 percent to 56.1 million pounds in the six months to September 30. Online sales leapt by more than 200 percent to 13.8 million pounds, while underlying international sales rose by 26.1 percent to 10 million pounds. There was also a 15.2 percent rise in revenue from its UK stores and concessions.
Being a quoted company suits Quiz well
The Scottish label made its debut as a publicly traded company last summer, in a . The group raised more than 100 million pounds when it floated on the London Stock Exchange's junior market in July, setting aside more than 10 million pounds of that to help fund further expansion.
Quiz was founded in 1993 and now runs about 70 stores and 149 concessions across the UK, as well as dozens of franchises in Europe and Asia. During the first half of the year, it opened three stores in Spain and boosted the number of international franchise and wholesale outlets from 65 to 76.
Image: Quiz, UK Web