Hunter Boot reports 19 per cent revenue growth as North America goes mad for wellies
Hunter Boot, the company behind the iconic wellies beloved of countryside dwellers and fashionable festival goers, has reported a jump in revenue in 2015, driven by strong sales on the other side of the pond.
Revenue grew by 19 per cent to £113.7m, up from £95.7m in 2014, off the back of a 33 per cent increase in North America sales.
Earnings before interest, taxes, depreciation, and amortisation dipped to £14.1m from £15.6m, in line with the Edinburgh-headquartered group's expectations.
The company said it had made "significant investments" to support the brand’s first full year of trading at its London flagship, the opening of a new outlet store at Bicester Village, upscaling warehousing and distribution and the development of a global e-commerce platform and IT system.
“Hunter is in a very strong position, with particularly encouraging growth in the last three years, and is well on its way to realising its potential as a global lifestyle brand," said Vincent Wauters, who was appointed chief executive of Hunter in February this year.
"The brand segmentation strategy and investment into expanding the product offering has been particularly valuable, with new styles in footwear, outerwear and accessories performing well. Our second global flagship in Tokyo opened in March 2016 and initial sales have been very positive as we develop Hunter Japan."
Wauters said he recognises that 2016 has "presented a challenging retail environment in general", particularly in North America.
As such, he added: "We have invested to strengthen the brand fundamentals. We have put particular focus on growing the Hunter team, building for the future by promoting from within and investing in new talent. The measures we have put in place in 2016 will put us in a strong position going into 2017, as we continue to grow and realise the brand’s true potential.”