The Dune Group appoints KPMG to find new investors and grow expansion plans
Dune London is stepping up its international expansion plans and has appointed KPMG to find new investors in the business.
The Dune Group’s Founder and Chairman, Daniel Rubin, has appointed KPMG to find investors, citing that "the time is right to realise the investment I have made in Dune". The business is reportedly performing strongly with a "first-class management team and exciting growth opportunities, both in the UK and internationally."
The group announced strong financial results for the year ending January 2023 with turnover reaching £139 million and an EBITDA profit of £10.1 million, reflecting a recovery from the pandemic during which the company made significant changes to its business model.
In particular it dramatically reduced its department store concessions, restructured its store portfolio and successfully expanded its international and online operations. The business now boasts 131 international franchise stores and 48 European stores and concessions and is seeking to add more.
Dune also plans to open 25 new stores in the UK over the next three years, whilst continuing to invest in its digital capability to further strengthen its successful omnichannel model.
Its recent US collaboration online with Nordstrom and Dillard’s in the US is said to have "started above expectations with a real appetite for Dune London’s occasion wear styles and high leg boots". The business said that it represented an "encouraging start in the US highlights the opportunity for the brand and heralds a major investment over the coming years".
Its major franchise market is the Middle East, where the brand has been trading for 15 years. It now has 65 stores in the region and there are plans for a further 10 stores in the coming year, with a particular emphasis on Saudi Arabia.
Rubin concluded the announcement by thanking the team at Dune for their work so far: "I have always had a passion for the product, and I am fortunate that this passion is shared by the Dune team. Designing and producing beautiful shoes and accessories is a key ingredient to the brand’s success."