Year-on-year growth strong at perfume retailer
The Fragrance Shop has reported an increase of 11% on last year. The store opened 17 new stores in the past year, taking its total profit to £13.2m – an increase from £12.4m last year.
Luxury brands such as Chanel, Dior, Gucci, Loewe and Viktor and Rolf are said to be driving the increase as The Fragrance Store takes a larger share of the premium fragrance category.
The retailer has also introduced new services, including the ability to order an extensive catalogue of perfumes in store. The service offers customers a chance to purchase old favourite scents, even those that have been delisted.
Sanjay Vadera, Chief Executive Officer at The Fragrance Shop, said: "These strong results are testament to The Fragrance Shop team and our commitment to improving our customer's experience. We've made shopping with us easier than ever before with multiple ways to purchase and we offer consumers unparalleled advice and guidance when it comes to buying fragrance."
Later this year the store will launch its first internally developed luxury fragrance, 1667. Another 20 new stores are also planned for the rest of the year.