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Continued growth for Hackett London
Luxury British brand sees consolidated turnover increase by 5.8 per cent.

By Laura Turner

21 December 2016

Hackett London, the luxury British menswear, childrenswear and accessories brand, has revealed consolidated turnover for the year ended 31 March 2016 increased by 5.8 per cent to €175m from €165m last year.
 
In the main, the increase in consolidated turnover is attributed to growth in the retail channel of 12.7 per cent. The increase in retail sales was driven by full price like-for-like store growth of 7.1 per cent and outlet like-for-like growth of 4.9 per cent.  The remainder of the growth came from new store openings in Dusseldorf, Stockholm and Hong Kong; outlets store openings in the UK, Italy and Austria; and from stores on Old Broad Street in London, Bluewater in Kent and Lisbon, Portugal, which opened during the prior year.
 
Meanwhile, wholesale saw a decline in sales of -4.0 per cent, with sales growth slowing as a result of pressure on the franchise markets where the distribution has been reviewed and stock levels optimised. 
 
Elsewhere, a new flagship store opened in Tokyo’s Ginza district in March 2016 and has delivered positive initial results. Further stores have been opened at One New Change on Cheapside, London, and in the new Victoria Gate development in Leeds. Additionally, the brand opened a “pilot” store in the USA; as the number one luxury goods market, the USA is seen as a key market for the brand’s development, with plans being to open further stores during 2017/18.  
 
Hackett London has also upgraded its website and continues to develop its digital platform.


 
 
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