Cath Kidston’s full-year profits surged as “essential Britishness” struck a chord with shoppers in its overseas markets.
The homewares and fashion retailer, known for its trademark floral tablecloths, crockery and tea towels, said group EBITDA jumped 27.4% to £9.3m in the year to March 26.
Sales advanced 8% to £129m, owing to a near 20% increase in overseas sales to £42.3m.
The retailer, which launched fledgling operations in India and Latin America last year, enjoyed particular success in its Asian markets and said it had benefited from its decision in 2015 to buy back its Japanese franchise operation.
Its chief executive Kenny Wilson said: “We’re having a good time across the board. They [in Asia] like pretty, feminine and floral so the aesthetic works very well, but they also like the essential Britishness of Cath Kidston.”
He added that the retailer’s growing international business “helps mitigate the effects of weaker sterling” and said the company had moved a significant amount of its product sourcing out of China and into countries such as Vietnam and Cambodia in order to avoid the need for price rises.
In the UK, like-for-like sales grew 3.3% to £87.7m, following the retailer’s successful tie-up with Disney and the launch of its Future Florals collection – a range of handbags in more muted colours designed to appeal to office workers.
Online sales jumped 10%.
The company, founded in 1993, was sold to Baring Private Equity Asia last year.
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