A near 20% sales rise at Cath Kidston’s international business gave the brand’s EBITDA a 27% boost in its last full year.
The homewares and fashion retailer, best known for its floral and spotty prints, made deliberate strides last year to expand into new and existing international markets.
And its tactic has seemingly paid off, with the burgeoning overseas business providing a natural hedging against Sterling’s post-Brexit slump.
Cath Kidston boss Kenny Wilson put the profit surge down to the popularity of the quintessentially British brand in its Asian markets.
He added that transferring much of its sourcing from China to other countries, such as Vietnam and Cambodia, had so far mitigated the need for further price increases.
Cath Kidston is not alone in hailing the particular benefits of international operations since last year’s Brexit vote. Other distinctive brands, such as Ted Baker, White Stuff and Superdry, have also found themselves at home on foreign soil.
Quote of the day
“London is a fashion capital and having a presence in this prestigious location will be another step towards building global recognition of Reserved as a brand and LPP as a company.”
– Reserved co-founder and chief executive Marek Piechocki commenting on the retailer’s impending Oxford Street launch
Today in numbers
The like-for-like decline in orders in the second half of ScS’ financial year
The number of surprising uses for vending machines
Tomorrow brings a post-close update from DFS and the latest instalment of Retail Week’s ‘On The Road’ series.
Emily Hardy, senior reporter