UK’s largest independently-owned fragrance retailer attributes figure to in-store initiatives
The Fragrance Shop, the UK’s largest independently-owned fragrance retailer, has reported a £9.1m increase in annual sales value for the year ending 31 March 2014, bringing the figure to £90.1m.
The company attributed this 11.2% growth in sales to its 'focus on consumer service and a wide range of products at value-led prices, in addition to an increased store portfolio and improved online presence'. It cites in-store initiatives such as Try It First, a service allowing online customers to receive a free sample of their selected fragrance before purchasing, as contributing to strong performance. This, says the company, is reflected in a 9.2% increase in underlying profit: to £12.4m compared to £11.3m last year.
Sanjay Vadera, Chief Executive, said: “The Fragrance Shop continues its journey of positive growth in UK multi-channel retail. Our trading figures reflect a returning confidence from consumers, when it comes to purchasing fragrance as part of their fashion wardrobe. With luxury and designer brands accounting for a large proportion of our sales, we are happy we have the best offer available for our customers, wherever and however they want to shop with us – in store, online or mobile. Celebrity fragrances are also proving important in our growth." He continues: "We have an ambitious growth strategy to remain at the forefront of the fragrance sector, with plans to open another 20 stores in the coming year. In addition, our online business is also thriving and we will continue to invest in our multi-channel approach through the coming year.”