Monica Vinader sales up as brand plots further global expansion
Jeweller Monica Vinader has posted sales up by a third from £19.8m to £26.4m in the year ending July 2016 and revealed amitions for further international growth.
The British brand, which was established by Monica Vinader from her home in Norfolk eight years ago, is also back in the black having recorded pre-tax profits of £202,000, which compares to a loss of £255,630 in the previous year due to costs associated with expansion into Hong Kong, according to the Sunday Telegraph.
International business now accounts for £9.5m of sales and following investment from private equity firms Piper and Winona Capital, Monica Vinader is plotting further international growth in markets such as the US, Singapore and South Korea.
To help growth the business Vinader has recruited Boden CEO Julian Granville as chairman (Boden had also received investments from Piper in 1999 and 2003 and the private equity firm exited the business in 2007) and Erica Allen, a former director at Farfetch and Net-a-Porter, as commercial director.
As well as its e-store, Vinader has three standalone stores in London, in Canary Wharf, Chelsea and Mayfair, as well as concessions in Liberty, Selfridges and Harrods, and is also stocked by Fenwick, Harvey Nichols and Bentalls. Its signature item is its friendship bracelet, which ranges in price from £105 to £375 and can be personalised.