AllSaints reports ‘record’ year as sales soar amid global growth
The retailer, which is known for its leather jackets and biker boots, said its total sales jumped by a quarter.
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Your support makes all the difference.Premium fashion brand AllSaints has reported a “record” financial performance for the latest year after seeing sales jump by a quarter.
The retailer, which is known for its leather jackets and biker boots, said its total revenue for the year to the end of January hit £390.9 million, up 25% from £312.9 million the previous year.
The jump in sales came as the group steamed ahead with international expansion with its first store opening in mainland China, in Shanghai, and others in Taiwan and South Korea.
AllSaints, which is headquartered in Shoreditch in London, has about 240 shops, concessions and outlets in countries around the world and hires more than 2,000 staff.
Its improved 2022 sales were helped by investment in a new digital platform, the firm said.
Chief executive Peter Wood also said it was focused on product development and “rigorous” inventory management, which paid off for its financial performance.
Across the wider group, which includes New York-based luxury menswear brand John Varvatos acquired in 2021, sales surged by 36% to £457 million.
The company also revealed its operating profit nearly tripled over the period, to £28.5 million from £10.1 million the prior year.
Mr Wood said: “This has been a record year for AllSaints, and these results are a huge credit to the passion, creativity and hard work of our fantastic team around the world.
“The performance has been driven by our intense focus on product development, e-commerce excellence, growing our global store network, and rigorous inventory management.
“Given the strong momentum across both brands, and our proven resilience in even the most challenging consumer environments, we remain hugely confident in the group’s future prospects.”
The company has not yet shared its full accounts for the year on Companies House.