The Fragrance Shop’s full-year EBITDA increased 9.2% to £12.4m, as the retailer said managing director Nigel Lawmon is to depart and be replaced by group finance director Pete King.
Sales at the perfume specialist increased by 11.2% to £90.1m in the 12 months to March 31, which the company put down to increasing its focus on customer service, a wider variety of products at value-led prices, an increased store portfolio and an improved online presence. Like-for-like sales jumped 8%.
The company said Chanel, Dior, Gucci and Loewe made up a large proportion of the retailer’s sales. Celebrity fragrances such as One Direction, Beyoncé and David Beckham also performed well.
Over the past year, The Fragrance Shop introduced a new service called Try It First, which allows online customers to receive a free sample of their selected fragrance, so they can decide if they like it before they open the full-size product.
It also introduced new brands such as Estée Lauder and expanded into beauty with ranges from brands Korres and Trilogy.
Last September, The Fragrance Shop launched its new perfume fascia, Indulge Fragrances, in Manchester’s Trafford Centre.
The store allows customers to browse and select fragrances in an open space, which is designed to complement the Fragrance Shop’s offer, which typically keeps all products behind the till.
The company said at the time that it plans to open up to 15 shops in the next three years.
The Fragrance Shop chief executive Sanjay Vadera said: “Our trading figures reflect a returning confidence from consumers, when it comes to purchasing fragrance as part of their fashion wardrobe.”
The retailer, which has 160 stores, plans to open another 20 shops and will continue to invest in its multichannel offer over the next year.
A spokeswoman for The Fragrance Shop said Lawmon was leaving to spend more time with his family.
Vadera said: “Nigel has played a fundamental part in our business growth for the past five years and we would like to wish him every success for his future. We are pleased to announce that Nigel will be succeeded by the appointment of Pete King as managing director. Pete has been with the business as group finance director since 2009.”