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Hobbs sales up by 9 percent to 87 million

By FashionUnited

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The preppy British fashion retailer, owned by 3i, posted

an increase of 9 percent in sales for the first nine months of the year, totaling 87 million pounds. Main sales driver was the online channel, which registered a 55 percent in sales after its revamp.

October was a month to remember, as sales surged 18 percent, boosted by record sales of boots and dresses with sales up 42 per cent between February and October compared with the same period last year, the company said on Monday.

“We are really pleased. This is to be expected in some ways. We are in the second phase of our plan for the business. We have brought the brand back to life,” summarized Iain MacRitchie, chairman of Hobbs.

“The company is absolutely not for sale at the moment,” he added, dismissing recent rumours on a potential sale. “It needs to realise more potential.” It is worthy of note to remember that those rumours were geared by the company not so long ago hiring PricewaterhouseCoopers as advisers.

“There is increasing interest in British brands,”MacRitchie said. “They are seen as quirky and authentic.” In order to make the most of this interest, the British fashion chain is boosting its international expansion, setting Australia, Germany, the US, and the Far East as their main targeted regions.

Aimed to pursue the strengthening of the company, Hobbs has also announced various significant senior appointments, including the likes of Helen Williamson, who will be joining the company from competitor Ted Baker, or Clare Dobbie - Asos' former global marketing director.

Hobbs