Monsoon beats recession

Monsoon has emerged as one of the surprise winners of the recession, delivering an eight-fold rise in profits.

The company, founded 38 years ago by Peter Simon, a former market trader, has been boosted by strong performances from its overseas stores.

Now Monsoon plans to open 140 stores in the next 12 months. It already has more than 1,000 — 425 of which are in the UK. The rest are in more than 50 overseas markets. Following its recent arrival in Hong Kong, the retailer is expanding in China and is poised to open in North America and Latin America this year.

Founded in 1973, Monsoon was launched following a period of Peter Simon selling shaggy woollen coats on the Portobello Road and hand block printed clothes from Rajasthan to anyone who would buy them. The original focus was always clothes with an ethnic origin from faraway places, including unusual dresses from Afghanistan and countries en route.