Barbour has raised the prices of its distinctive waxed jackets
Barbour has confirmed it will raise its prices following ‘extraordinary challenges’, such as higher inflation and the cost-of-living-crisis impacting staff.
Barbour's Managing Director Steve Buck said he is "confident" customers are still investing in quality pieces, despite the price rise. Its waxed jackets, such as the best-selling Beadnell, usually retail for between £200 and £300.
The business said it was facing price increases across materials, staffing, shipping, energy, and higher duty costs because of Brexit.
Founded in 1894 by John Barbour, the company now holds three Royal Warrants and sells over two million of its iconic quilted and waxed jackets globally each year. Over the retailer's history, it has accumulated a long list of customers including the royals.
According to Dame Margaret Barbour, the company's Chairman, the late Queen Elizabeth II wore the same Barbour jacket for 25 years, asking for its coating to be "re-waxed" around the time of her Diamond Jubilee in 2012.
Buck commented: "The fiscal year 2022/23 will see some extraordinary challenges for our business with higher inflation, the cost of living crisis, and market contractions. The ongoing impact of the pandemic, Brexit, and the current global economic uncertainty has resulted in many challenges to margins across all channels and markets including rising costs and pricing pressures."
Reported sales were up 32% to £286.6 million in the year to April 2022, as it began to recover from the effects of severe COVID-19 lockdowns.
Buck continued: “Customers are being careful with their money but are continuing to buy good quality investment pieces. Because of this, our sales, particularly in wax jackets have continued to remain buoyant.”
This news follows a series of sales-boosting collaborations with GANNI, Brompton, Ally Capellino, and House of Hackney.