Fashion brand Cath Kidston have announced it has had a positive start to its financial year, which has been enhanced by rising international demand for the retailers classic British items.
Figures show that sales rose 12.2% to £59.9 million in the six months to 24th September and international sales by themselves experiencing a 44.3% surge to £18.9 million.
Cath Kidston’s acquisition of its Japanese franchise in September 2015 hit its underlying EBITDA in the previous financial year, in the current year sales in that country increased by more than 30%, partially due to the weaker sterling. The retailer also opened its first store in Delhi in the Ambience mall in October.
Kenny Wilson, chief executive, said: “Our international stores provide a natural hedge to the weaker sterling and we benefit from our diversification both in terms of the breadth of our customer base and the product range.”
“We are also seeing the strength of ’Brand Britain’, as evidenced by the outperformance of our London tourist stores versus the rest of the UK.
“In the last month, we have opened our first ever stores in India and, while it is early days, we are pleased with the start so far and see great potential for the brand there. Asia continues to be a very strong market for us and we are planning more store openings in the region next year.
“We are confident that the major initiatives we have taken, including the acquisition of the Japanese business and the new product and marketing strategy, will deliver further growth.”
