Heritage British fashion retailer Barbour has reported a two per cent uplift in annual profits, which it has attributed to the “Meghan effect”.
According to The Daily Mail, for the year ending April 30 last year the outerwear brand raked in £29 million in profit compared to the £28.4 million it recorded the year prior and boosted by sales of £184.3 million.
The recent announcement that Prince Harry is due to marry Meghan Markle has helped fuel Barbour’s fortunes, as she – along with the Duchess of Cambridge – is seen wearing the brand’s jackets.
”Barbour continues to perform strongly and we are satisfied with our progress despite the challenging market conditions we face and significant adverse currency fluctuations,” managing director Steve Buck said.
“Our success is down to the hard work of all our employees in the north east and around the world who are passionately involved in the brand’s growth.
Barbour is also currently centralising its distribution with a “significant investment” in a 270,000sq ft warehouse near its headquarters in Simonside.
”We continue to support manufacturing in the UK and investment in our people,” Buck said.
“Our new one site distribution centre located in the local area will bring together all of Barbour’s distribution and warehousing into one area enabling increased efficiency and the capacity for future growth.”