Footwear retailer the Dune Group has outlined its strategy to reach sales of £200m in the next three years after operating profits rocketed 630% to £7.3m in the year to January 30.
Chief executive John Egan, along with group chairman and Dune founder Daniel Rubin, has developed a three-point plan to reach
that target. The plan is built around growth within UK department stores, international expansion and development of its ecommerce proposition.
Group sales to January 30 were £132.3m, an increase of 175% after it integrated concessions business Shoe Studio, which it bought out of administration last year. Sales figures are understood to be closer to £150m mark when annualised.
Dune Group bought the Shoe Studio business, which included the Bertie and Pied a Terre footwear labels, in March 2009 after it collapsed into administration because of difficult trading and problems at its then debt-laden parent company the now defunct Mosaic Fashions.
Egan said that the integration of Shoe Studio into Dune Group had gone smoothly and that sales had been boosted by the launch of new department store concessions across all of Dune Group’s portfolio of labels. The deal opened up new relationships for the company and Dune has since gone on to open departments within House of Fraser and Fenwick.
The group relaunched its Bertie label with a standalone store in London’s South Molton Street last month. The collection and branding have been given an overhaul and focuses largely on casual product versus the trend-led heels it was known for pre-collapse.
Egan said there was potential for between 20 and 30 Bertie standalones. A second is due to open in Covent Garden. Egan cited locations such as Carnaby Street, Westfield London and Portobello Road as possible locations.
He added that plans were afoot to relaunch the Pied a Terre label next year with a new store concept on the King’s Road.
Dune Group has 30 Dune stores overseas in markets including Russia, the Middle East and, more recently, Libya. These are run by franchise partners. Egan said it is targeting 120 international stores in the next three to four years.