THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
OKA reports profit increase

OKA Direct, the furniture and interiors lifestyle brand, has reported strong end-of-year results for 2011 as it looks to expand the business internationally.

GENERAL MERCHANDISE

OKA reports profit increase

The retailer returned an adjusted EBITDA of £889,809, up from £472,487 in 2010. Profit after tax was £510,942 while turnover for the year increased across all channels by 17%.

The retailer said it had maintained strong cost control in all areas of the business as well as streamlining stock purchasing. It also rebalanced its property portfolio with the closure of its Sloane Avenue store due to the opening of its nearby Chelsea flagship and the closure of its Berinsfield store where the lease had expired. OKA said it was continuing  to look for an additional flagship store. 

Annabel Astor, co-founder and chief executive, said: "It has always been a priority of ours to pay careful attention to our customers’ needs and adapt the business accordingly, so it is extremely satisfying to see the OKA brand go from strength to strength.  Whilst we remain cautiously optimistic for the year ahead, we are delighted that we are now able to take the OKA brand out to an international audience through the global licensing deal with LF Products. We will look to improve on the success of 2011."

In June 2012, OKA announced that it was expanding its business internationally, following a global licensing deal with LF Products, a subsidiary of Hong Kong-headquartered multinational Li & Fung Limited.

The deal will enable OKA to have a presence in Asia, the Americas, the Middle East and Europe, where it will be available to franchise in high-end department stores.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing