Luxury department store Liberty has reported a 16 per cent year-on-year growth for all aspects of its business, in first-half results published yesterday.
Last year saw the London-based retailer boost sales by 35 per cent on the previous year, 22 per cent of which came from the flagship West End business.
The fabrics wholesale business saw a 72 per cent increase on 2009, with the Japanese market contributing significantly to this success.
On the retail side, fabrics sales saw an uplift of 28 per cent so far this year, a positive result considering the rise in price of core fabrics such as cotton in recent times.
Such positive results follow the acquisition of the brand by BlueGem Capital Partners in June last year.
Commenting on the strong trading performance, Marco Capello, Managing Partner for the firm, said that further investment within the company is planned.
“These extremely positive results have given us even more confidence in the potential of Liberty as a global brand.
“For this reason, all of the company’s profits have been and will be reinvested in the company to enable further growth.”
In keeping with this expansion plan, the retailer has also announced the acquisition of renowned British brand Christy’s Hats.
Founded in 1773, the headwear specialist has launched a menswear collection in the Liberty store, with a womenswear collection – a first for the designers – to be unveiled early next year.
Exclusivity continues to be a key aspect to the retailer’s strategy and later this month, National Treasures, a venture celebrating the best in British design, will feature at the store.
Collections on show include one-of-a-kind and limited edition items from designs such as Tracey Emin, Stella McCartney and Paul Smith.
The launch of the collections is expected within days of the planned completion of an expansion project for the store, which is to add over 2,400 sq ft of retail space following a shareholder investment of £4 million, including £1.2 million in renovation costs.