The Manchester headquartered perfume retailer credits major launches for bolstering sales
The Fragrance Shop has reported a sales increase of 6% in 2017, fuelled by launches from Chanel, Jean Paul Gaultier and Emporio Armani.
The British perfume retailer said net sales rose to £121m and its profits upped by 9.2% to £16.5m, bucking the high street trend of struggling profits.
“We are delighted to have achieved another outstanding year, given the challenging economic climate,” said Sanjay Vadera, CEO of The Fragrance Shop.
“Our growth highlights the fragrance sector’s resilience with NPD and blockbuster launches from brands.”
Jean Paul Gaultier’s Scandal, Chanel’s Gabrielle and Emporio Armani’s Stronger With You were highlighted for their successful sales.
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Founded in Manchester, UK, in 1995, The Fragrance Shop now has 214 stores nationwide – 33 of those opened in the last trading year.
Vadera added: “The customer is at the heart of everything we do and we are always evolving our customer strategy to ensure we continue to delight and exceed their expectations in the retail landscape.”
Sanjay Vadera, CEO of The Fragrance Shop
The retailer’s online operation is said to have increased in popularity, with year-on-year ecommerce sales rising by 27%.
In recent months UK bricks-and-mortar retailers have made headlines for disappointing sales, in particular throughout the Christmas period.
Department store House of Fraser’s new owners announced today that it intends to close stores in a bid to stay afloat and Debenhams axed 320 jobs in February as part of a £10m cost-cutting plan.