Monsoon Accessorize returns to profit after administration

Monsoon Accessorize
// Monsoon Accessorize returns to profit in the year to December 31 2021
// The fashion retailer is seeking to expand its presence in the UK and internationally

Monsoon Accessorize has revealed a return to profit after its turnaround plans helped boost the retailer following its administration in 2020.

The fashion retailer said it is now looking to expand its presence in the UK and internationally, and plans to start selling third-party brands

Monsoon Accessorize recorded sales of £196 million in the year to December 31 2021, when EBITDA came in at £17.4 million.

READ MORE: Monsoon Accessorize Trust continues to support communities in Afghanistan

By the end of December, the business was also debt-free with net cash of £15 million.

Monsoon Accessorize was bought out of administration in June 2020 by founder Peter Simon in a pre-pack deal that saved the retailer’s 2300 UK employees and retained a high street store presence.

Between April 2020 and August 2021, Monsoon Accessorize reported sales of £200 million, EBITDA of £24.7 million and profit before tax of £19.9 million.

The retailer now has 150 UK stores, after opening 11 in 2021, and 20 more are planned for both the Monsoon and Accessorize fascias in 2022.

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