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River Island reports 70 percent jump in profits

By Prachi Singh

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After the high street brand River Island entered the kids’ wear business with River Island Mini in April 2014, the company reported 70 percent jump in profits. The company said that profits increased to 149.1 million pounds (231.6 million dollars) against 88 million pounds (136.7 million dollars) last year.

CEO Ben Lewis said that the investments River Island made last year in expanding retail presence and strengthening technology has led to a 48 percent increase in mobile traffic to the River Island website and 32 percent jump in click and collect sales. The company expanded its presence into South America and opened its first stores in Santiago, Chile, and Lima, Peru, recently. Last year River Island opened stores in Estonia, Malta, the Philippines and South Africa. It is also further expanding in the UK, Sweden, Holland and the Middle East.

Lewis said, “River Island has always had a strong focus on design and great product, and our continued investment in this has boosted sales over the past year. We are very much a multichannel retailer and increasing number of our customers are using all three channels - app, online and stores.”

River Island