Hackett to expand in London as sales surge

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Fashionable City workers in St Paul’s will soon have a new Hackett store to shop in, as part of expansion plans unveiled on Tuesday by the preppy menswear brand.

Hackett said it will open shops in London’s One New Change shopping centre, Leeds and Tokyo before the end of 2016.

The openings will bring its global stores and franchise numbers to around 110.

Accounts just filed show turnover rose 2.8% to £110 million in the year to March 31 2015.

The UK accounted for £32 million of sales and the firm noted a strong performance at its Regent Street flagship store and improved online sales.

There was also good interest from the European, Middle Eastern and Far Eastern markets.

Pre-tax profit dropped to £1 million from nearly £7 million, which Hackett blamed on one-off transactions such as property leasing deals.

The retailer started life in Portobello Road in 1979 and was bought by Pepe Jeans in 2005.

Source Article from http://www.standard.co.uk/business/hackett-to-expand-in-london-as-sales-surge-a3165196.html

January 27, 2016 |
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