All Saints scores fourth consecutive year of growth
Fashion brand All Saints has posted its fourth consecutive year of growth.
In the year ending 30 January 2016, the company clocked up total sales of £252.5m, an increase of nine per cent from £231.3m the year before.
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UK sales increased 7.4 per cent to £144.3m, compared to £134.4m the year before.
The success of All Saints since has prompted rumours that Lion Capital might be looking to sell.
But chief executive William Kim quashed those rumours. He told Morning Wire that the partnership would be continuing.
"We would not have achieved our results without Lion Capital. We do everything in tandem," he said.
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"Every year we feel this is just the beginning. We're currently trading in 18 countries. But when you look forward to 2020, we want international trade to account for two thirds of our business."
The business has been marking itself out in the retail space by taking inspiration from digital leaders such as Amazon rather than other retailers.
It keeps most of its operations in house, so that Kim, and the management team installed as part of the turnaround, can work directly with people from all sides of the business, from digital and customer services to design.
Kim has a more holistic view to the internet than most retailers. He says "dot com isn't just about generating revenues". It's as much about internal communications and raising brand awareness as it is about sales.
Aside from digital, All Saints' growth areas in the UK include its menswear and its bags business.
Kim said: "We've been focusing since 2012 to build a future proof model. Our vision was to create not only a brand, but a diverse brand that was relevant for 2020."
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He said the company is proud of its progress globally; 43 per cent of its revenue base is international. Over the past year, All Saints has opened 23 stores across the world, and set up shop in the Middle East for the first time.
The group has partnered with Majid Al Futtaim in the region, and opened a shop in the Mall of the Emirates in Dubai in September 2015.
But the high-end high street brand is still investing in the UK and recently partnered with Selfridges to renovate its department stores in Birmingham and Manchester. Kim said new partnerships on digital platforms, and in continental Europe, will be announced in the new year.