Store openings boost The Fragrance Shop sales
INDEPENDENT perfume retailer The Fragrance Shop has reported a 4% like-for-like sales rise in the five weeks to January 5.
The privately-owned chain, which is in the midst of a plan to open 100 new shops, said taking into account recent new stores, sales were up 14.2% in the period. Top sellers were Paco Rabanne 1 million and James Bond 007 for men and for women, Chanel’s Coco Mademoiselle and Thierry Mugler Alien.
The Fragrance Shop now operates 148 stores across the UK. Recent openings in prime retail locations include the Trafford Centre Buchanan Galleries in Glasgow and Liverpool One – were all trading in time for the festive period.
New innovations to its web offering, such as ‘click and collect’ and ‘try before you buy’ have also helped drive sales.
Chief executive Sanjay Vadera, said: “We have been able focus on offering our customers best value day in day out on the brands they most want to buy and as a result we have managed to grow sales by giving consumers strapped for time and cash what they demand, a great deal and exceptional service.
“Despite delivering this improved value to our customers we have been able to maintain our margins and grow profit as well as sales.
“At a time when many are shunning traditional bricks and mortar retailing in preference of online solutions, we are successfully combining the two. We continue to look for prime retail locations across the UK that can accommodate new store openings in order to capitalise on what are favourable dynamics in the fragrance market.”
In its last financial year (to March 2012), the Manchester company reported sales of £70.4m with ebitda of £9.3m.
