- Prachi Singh |
REPORT_ Reiss has managed to double its EBITDA in the 12 months to the end of January this year by staying away from discount strategies and focusing on its premium products. The group has reported EBITDA of 9.2 million pounds (14.4 million dollars) in the period, up from 4.6 million pounds (7.2 million dollars) against the previous year. The company has attributed the growth performance solely to its UK operations, which saw a 42 percent rise to 10.2 million pounds (15.9 million dollars).
On the contrary, the group’s international stores and franchise operations witnessed a loss of one million pounds (1.5 million dollars) during the period under review. However the loss was narrowed compared to the last year’s figure of 2.6 million pounds (4 million dollars). Overall sales improved to 116 million pounds compared (181 million dollars) to 106 million pounds (166.2 million dollars) in its 2013, excluding franchise sales. At present Reiss operates 130 stores in 15 markets, and is all set to make a debut into the Philippines next year.
The family-owned high street label is endorsed by the likes of Duchess of Cambridge, is run by its founder, David Reiss, who took over his father’s Gentlemen’s Outfitters and Petticoat Lane in 1971. He launched the womenswear line much later in 2000.