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VISIT sales leap by 44%

Lauretta Roberts
21 May 2018

Luxury multichannel retailer has reported sales up 44% to £293m in the year to 31 January 2018.

According to WWD, the business, which recently sold a majority stake to private equity giant Apax Partners for a reported £800m, also achieved EBITDA of £26m, up 37%.

While owns bricks & mortar retail stores in upmarket London neighbourhoods such as Wimbledon Village, Richmond upon Thames, Marylebone and Notting Hill, it said that 95% of its sales now come from online, with 82% of online sales generated outside of the UK. Its average order value had increased to £542.

The results come on the back of an announcement of several new senior director appointments for the business. CEO Ulric Jerome recently revealed that Tom Athron had joined as chief operating officer from the John Lewis group, Lea Cranfield had joined as commercial director from Yoox Net-A-Porter Group (YNAP) and Kim Hartlev had joined as CTO, having previously worked for Sainsbury’s.

The bolstering of the senior team followed significant investment in infrastructure and technology including the opening of a state-of-the-art 24,000 sq ft creative studio in East London and a new logistics centre near Heathrow, which will be operational shortly.

It is also set to open a new retail space and broadcasting hub in the heart of Mayfair at 5 Carlos Place this September, which will connect and inspire customers through a range of content online and on social channels.

“Our mission is to create the most personal luxury shopping experience in the world, underpinned by insight, technology and our unique fashion point of view," Jerome said.

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