Boden, the quirky mail order clothing specialist, hopes to open its first full-price retail store this summer.
The retailer, launched by Johnnie Boden 11 years ago, is close to signing for a large property in central London, where the full range can be offered.
Operations director Ben Dreyer confirmed: 'A London location will either begin trading this August or in January 2004. We want the opening to coincide with one or other of our busy trading seasons, such as when the autumn or spring catalogues launch.'
Figures for the year to December 31 are being audited, but Boden expects turnover of close to£50 million and a pre-tax profit 'comfortably in excess' of last year's£1.6 million, said finance director Paul O'Leary.
Boden, who is chairman, said he expects sales to reach the£100 million mark by 2006, by continuing to grow at a rate of 30 per cent year-on-year.
Growth will be fuelled by extending the ranges by 10 per cent each year, increasing the customer base, expanding internationally and opening stores in the UK.
A US catalogue trial is under way, through a Miami-based business partner, and Boden said childrenswear has been particularly well received. 'We will continue testing the ranges and price modelling over the next year, and if we get the right results, we will push the button and go dambusters over there,' added Boden.
A 7,440 sq m warehouse and call centre in Leicester was officially opened this week, to support the expansion push.
- Retail people: page 35.
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