Aspinal of London reports sales growth but losses widen

British luxury brand Aspinal of London has reported another year of growth to March 2018 with sales of £31.4m up 7% on the previous year, however its pre-tax losses doubled to £3.2m. During 2018, the brand said it had made significant progress in implementing its key strategies, including the opening of a new flagship store in London's Regent Street St. James' and a new store in London City Airport, as well as improving its online offering.

In its report filed at Companies House, Aspinal outlined its Brexit concerns, stating that the main issues were the drop in UK consumer confidence, the implications of any changes to duty, as well as the ability to freely move goods across borders.

Its strategy is to plan on expanding internationally which, according to the report, would reduce the impact of uncertainty within the domestic market.

Aspinal of London was founded in 2001 by Iain Burton and is known for its leather bags, wallets, accessories, office and business accessories.

British fashion designer Giles Deacon was appointed creative director at Aspinal in October 2018, a position he holds alongside running his own label.