Boden directors cash in on £9.3m payout

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Boden directors

Fashion retailer Boden paid out £9.3 million to nine directors last year as it continued its expansion.

According to The Telegraph, the payout came after international sales helped the brand offset rising costs thanks to the devalued sterling.

Sales for the year ending December 31, 2016 went up by nine per cent to £308 million, and Boden said two fifths of its revenues are now generated in the US.

Sales were also boosted by double digit growth in womenswear and 10 per cent growth in customer numbers.

The company, which was founded by Johnnie Boden 1991 as a catalogue retailer before expanding to bricks-and-mortar and online retail, also recorded a pre-tax profit increase of 9.6 per cent to £26.2 million in 2016.

While Boden‘s first shop in Hangar Green, north west London, was been revamped to offer more products and services, the retailer also partnered with John Lewis to open five concessions.

It has also started to sell its items via Next Label, Zalando and La Redoute, and it is now on the cusp of opening a brand new flagship store on King‘s Road, Chelsea in London.

Earlier this year, former Tesco director Jill Easterbrook joined as chief executive to replace Julian Glanville, who has taken the position of executive chairman. Boden himself has stepped into the role of creative director.

According to The Telegraph, Easterbrook has said that Boden was now beginning a major investment programme that will see the retailer open a new warehouse and renovate its headquarters.

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