The Fragrance Shop celebrates ‘outstanding’ year
Perfume retailer The Fragrance Shop has increased its full year like-for-like sales by 6% after luxury products such as Tom Ford and Dior fragrances helped boost trade.
In total, sales increased by 14% on continuing trading activities as the retailer benefited from the popularity of NPD and launches from brands such as Chanel, Jean Paul Gaultier and Emporio Armani.
Operating 214 stores across the UK, The Fragrance Shop said ongoing expansion in its store portfolio drove further growth with 33 openings in the year. Meanwhile, online sales rose by 27% year-on-year.
EBITDA prior to exceptional items rose by 9.2% to £16.5 million.
Sanjay Vadera (pictured), chief executive of The Fragrance Shop, said: “We are delighted to have achieved another outstanding year, given the challenging economic climate. Our growth highlights the fragrance sector’s resilience with NPD and blockbuster launches from brands such as Scandal, Chanel Gabrielle, Jean Paul Gaultier and Emporio Armani Stronger With You/Because It’s You by far the top performing launches.
“The customer is at the heart of everything we do and we are always evolving our customer strategy to ensure we continue to delight and exceed their expectations in the retail landscape.”
The Fragrance Shop said its Scentaddict subscription service, where customers can try new scents before buying, had been very popular.
Founded in 1995 with a single store, The Fragrance Shop now employs just under 1,400 people.
In December 2017, Vadera announced the launch of his new beauty concept at London’s Westfield Stratford City. The store offers a one stop shop for beauty products and male grooming items where customers can browse makeup, haircare, skincare, grooming, bath and body, and electrical products all under one roof.
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