Iconic department store Liberty has reported a hike in sales for the first half of the year as it reveals plans for a store revamp.
The London-based department store’s revenue jumped 16% for the six months to July 31,
Marco Capello, owner and chairman of Liberty, said: “These extremely positive results have given us even more confidence in the potential of Liberty as a global brand. For this reason, all of the company’s profits have been and will be reinvested in the company to enable its further growth.”
Liberty is to revamp its store and will invest £1.2m on a renovation and expansion project to add over 2,400 sq ft of retail space to the store.
The first part of the project is set to be completed by mid-October and will add five beauty treatment rooms, a personal shopping department, a hair salon and a rooftop bar to the London store.
The second part of the project, due to be completed at the end of March 2012, will involve expanding its ground floor by over 600 sq ft to house a further six bag brands and eight new jewellery brands.
Liberty will also build an additional entrance on the corner of Kingly Street and Little Marlborough Street to give customers direct access to its new jewellery and accessories room.
The retailer has also acquired luxury hat brand Christys’ Hats for an undisclosed amount, which Liberty said marks the start of its investment in niche luxury brands with a strong British heritage.
Christys’ Hats, which was founded in 1773, offers a range of hats including British-made trilbys, tweed flat caps and bowlers. The brand has been worn by Queen Elizabeth II, Sir Winston Churchill, Brad Pitt and Johnny Depp. Retail prices range from £55 to £95.
Capello bought Liberty last year for £32m last year via his BlueGem Capital Partners investment vehicle.