Monday, February 18, 2019

Smiggle’s UK expansion drives global sales growth


An aggressive expansion into the UK by Australian stationery brand Smiggle contributed to its massive global sales growth, according to its latest full-year report.

Globally, total sales increased by 41.8 per cent to £110 million, with 52 new stores opened over the 12 month period to July 30.

Forty of these stores were opened in the UK.

This week, the retailer will take its UK store count to 74 thanks to openings in Stirling, Carlisle and Chelmsford since the first quarter started.

Having only arrived to the UK in February 2014, Smiggle said it remained on track to open 200 shops here by 2019. 

The company also reported sales after the Brexit vote as equal as or better than pre-Brexit, with strong like-for-like sales growth. 

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The growth of Smiggle in the UK has also helps its parent company, Premier Investments, to record strong financial results.

“The 2016 result demonstrates the continued successful implementation of the Premier Retail strategy to drive growth through Smiggle,” Premier Investments chairman Solomon Lew said.

Apart from the UK and Australia, Smiggle also has stores in New Zealand, Singapore, Malaysia and Hong Kong.

 “Our strong trading results in each country confirms the long term store roll out targets management have set and we continue to actively review opportunities in new geographies,” Lew said.

Premier Retail chief executive Mark McInnes said over half of Smiggle‘s revenue in the financial year was delivered by its stores outside Australia.

“The sales and customer acceptance of Smiggle in each of the countries we have entered have been exceptional,” McInnes said.

“[Managing director] John Cheston has led Smiggle to become a truly unique global brand.”

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