Kit and Kaboodal remains cautious as it looks ahead to international expansion
Kit and Kaboodal has made a strong start to its fourth quarter with October sales growing by 47% year-on-year.
The online women’s fashion retailer has also surpassed its £8 million full year sales target two months early as it looks ahead to worldwide expansion.
Despite the better-than-expected result for the Yorkshire based family-run business, it is remaining cautious and will be focusing on protecting the company in what it expects to be challenging trading conditions in the months ahead.
John Marsden, co-founder and financial director at Kit and Kaboodal, said: “We’re pleased to be able to report such strong results, which come as a result of hard work across the team and the ongoing support of our customers. We’ve been looking ahead and preparing as best we can against the difficult economic climate, but we know there’s still a lot of uncertainty ahead for the retail sector.
Helen Marsden, co-founder and buying director at Kit and Kaboodal, added: “The last few months have been challenging and have stretched us, and part of our success has been down to looking ahead and finding areas we can reduce costs and increase efficiencies. This has allowed us to protect our customers from price hikes while continuing to offer the same service and quality product that they expect, which has proved to be a successful business strategy.”
Despite the caution, Kit and Kaboodal is continuing with its worldwide expansion plans and will officially launch a dedicated site for the US in the first quarter of 2023 and Australia before the end of 2022.
