Loughborough fashion retailer doubles profits but sounds Brexit warning

Selective Marketplace, the Loughborough fashion firm behind the Wrap and Poetry brands, has reported a rise in turnover and profit the year ending 31 December 2017.

Turnover rose from £33.8m in 2016 to £40.3m last year with profits before tax more than doubling from £2.9m to £6.6m.

While the firm is upbeat in its latest accounts, it sounded a word of caution over Brexit. A statement signed off by directors said: “The business is in a strong position with strong brands and a robust balance sheet. Looking to the future, the principal risks arise from political uncertainty and the potential for disruption to global trade.

“Currently we face few barriers to trading with Germany and the US. If there were to change as a result of Brexit negotiations or global trade disputes, then this would present challenges to our export business.”

At the end of 2017, Selective employed 115 people.