AllSaints records record sales as shoppers splurge on biker jackets and boots
AllSaints records record sales as shoppers splurge on biker jackets and boots
Trendy retailer AllSaints posted record sales and profits as shoppers brushed off the cost-of-living crisis to splurge on biker jackets and boots.
The company, which is owned by private equity giant Lion Capital, saw profits jump 50 percent to £58.6 million in the year to the end of January.
Customers have continued to buy more expensive items such as a signature leather jacket retailing for around £319 that has been worn by celebrities including singer Nicole Scherzinger.
Turnover up: AllSaints, owned by private equity giant Lion Capital, saw profits rise 50% in the year to the end of January to £58.6m
Sales from the company and its US subsidiary, John Varvatos, rose 36 percent to £457 million, with bosses praising the positive reception in Asia.
Bosses echoed other luxury brands such as Mulberry and Burberry in pointing to an enthusiastic reception from shoppers in China after Covid curbs eased earlier this year.
Boss Peter Wood said the brand is “going from strength to strength,” pointing to its recent debut in mainland China.