Hackett sales rise on back of store openings
The company, whose tailored suits have been modelled by rugby player Jonny Wilkinson and tennis player Andy Murray, said sales rose 27pc to £96m in the year to March 31.
This increase in sales drove profits before tax and interest payments up from £4.9m to £6.2m.
Hackett was formed in 1979 when Jeremy Hackett, the fashion designer, and Ashley Lloyd-Jennings opened a stall in Portobello.
The company is now owned by L Capital – the private equity firm backed by Bernard Arnault’s luxury goods company LVMH.
Hackett has become famous for its jackets and suits, which were worn by the England rugby union squad for their open-top bus tour following the 2003 World Cup.
Retail sales for the company rose by 15pc during the year while wholesale turnover increased by 31pc.
Hackett has opened new stores in Heathrow Terminal 4 and Canary Wharf this year, which have helped to drive sales.
The company said wholesale revenues have been led by growth in the Middle East and Western Europe, particularly France, Germany, Switzerland and Spain.
In a statement, Hackett added: “Looking forward Hackett aims to maximise the positioning of the brand and to continue global expansion especially in the Far East.
“Retail expansion will also continue across mainland Europe. In the UK, the refurbishment of two iconic Hackett stores, the flagship store on Sloane Street and Covent Garden, will help raise the brand’s profile aided by a new concept store in the Spitalfields area of London.
“To help achieve the potential of the brand overseas, Hackett will continue to seek business partners in the more challenging markets to bring local expertise and knowledge. Confirmed new territory openings in the next financial year with franchise partners include China, Malaysia and India.”