Aspinal of London sees business bounce back from the pandemic with in-store sales rise
Aspinal of London, known for its leather handbag and accessories, saw in-store sales rise by 40% during the Christmas 2022 trading period.
The luxury British brand reported a 15% rise in sales across the month of December year-on-year, boosted by both online and in-store channels.
This trading period was heavily influenced by its two flagship stores in the capital city. Aspinal’s Regent Street store recorded a 30% uplift in sales, as well as a 90% rise in sales at its Royal Exchange branch.
Aspinal, which has created accessories for women and men since 2001, has made a strong recovery since the COVID-19 pandemic. The business closed ten branches during the pandemic, opting to focus heavily on e-commerce trading.
In accounts filed for the year ending 22 March 2022, sales for the 12 months were up 29% to £29.8 million, with underlying profits more than doubling to £4.1 million.
Iain Burton, Chairman of Aspinal, commented: “I’m extremely pleased this strategy is proving successful and I’m proud to see our retail stores’ phenomenal performance over Christmas. Brand growth is the focus for 2023, with international markets a particular focal point.
“Aspinal's post-COVID strategy was to focus on our roots as an online business supported by only the most prestigious and select retail partners and our unique flagship stores. I'm extremely pleased this strategy is proving successful, and I'm proud to see our retail stores’ phenomenal performance over Christmas."