Tiger enjoys ‘record’ year in 2014
Zebra, the parent company of Danish homewares and accessories chain Tiger, saw its revenue surge by 44% to DKK 2,464 million in 2014 as growth was fuelled by international expansion.
Profit before exceptional items and after tax rose by 68% to DKK 196 million while EBITDA before exceptional items climbed by 50% to DKK 364 million.
Growth was driven by the opening of 122 new stores in the year, 11 of which were with the company’s Japanese joint venture partner. One of the biggest openings was Tiger’s flagship store in London’s Oxford Street in August 2014.
Tiger chief executive Xavier Vidal said: “Growing revenue by 44% while increasing the profit margin is the result of great teamwork and a testimony of the strength of our innovative design and retail concept. I would like to thank all employees for their contribution in making 2014 another record year.”
More than half of the new stores were opened in the company’s top five markets of Denmark, Italy, England, Spain and Sweden, which together made up approximately two thirds of total revenue.
Tiger entered five new markets in the year, including France, Czech Republic, Estonia, Austria and Cyprus. By the end of 2014, Tiger operated 411 stores in 26 countries.
Vidal added: “The Tiger concept has been a commercial success in all our markets and there is still a significant potential to continue to expand our store network. We expect to continue the strong growth trajectory in 2015, primarily driven by store openings in our existing markets and expansion into selected new geographies.”
Tiger has opened 46 new stores so far in 2015 to take the total to 457. This includes a new shop in New York which is the first Tiger store in the US.
