Jack Wills has opened a new store in Germany as it embarks on international expansion plans to escape the Brexit-hit pound.
The British fashion retailer has opened the doors to a new shop in Sylt, a Northern German luxury holiday resort which also hosts the Windsurf Worldcup. This follows successful launches at similar US holiday resorts like Martha‘s Vineyard, Nantucket.
In a bid to offset the growing cost of imports from the fallen pound, this is set to be the first of 11 stores in its international expansion effort.
READ MORE: 5 Minutes With Emma Alexander, Chief Product Officer, Jack Wills
“It is only natural that we look to expand our store footprint internationally as we grow as a business and look to reach new customers,” founder and chief executive Peter Williams told the Press Association.
“Our increasingly international store portfolio provides a natural hedge as we look to reap the benefits of a diversified currency base in the face of a prolonged weakening of the sterling.”
For the year ending January 2016, the company saw a four per cent rise in turnover to £137.4 million, and its estate currently stretches across 90 stores in the UK, US, Hong Kong, Singapore and the Middle East.
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