Reiss, the mid-market fashion brand, has defied the difficult retail climate by reporting a remarkable 22% increase in sales for 2019. The company’s unaudited results reveal that it achieved a total sales figure of £227.4 million ($289.5 million) throughout the year, which is a significant boost supported by investments in design and quality.

One of the key factors contributing to Reiss’ success is its expansion strategy. The brand opened an impressive 67 new locations across the UK, Europe, the USA, and APAC, which contributed to the strong growth. Moreover, like-for-like sales were also robust, experiencing a 21.6% increase compared to the previous year.

CEO Christos Angelides has attributed the company’s thriving sales to customers purchasing more clothing at full price, resulting in positive profits. In fact, the company’s EBITDA profits skyrocketed even higher than its sales figure, boasting a 51.6% increase to £29.3 million ($37.3 million) for the year ending on February 1, 2020. Angelides has described 2019 as an “excellent” year for Reiss and commended the company’s transformative efforts over the past two years.

The American market particularly stood out as a top performer for Reiss, as it opened 29 new stores and concessions in the country last year. Building on this success, Reiss has plans to launch 14 new locations on the West Coast in collaboration with Nordstrom and Bloomingdales in 2020. These store openings are part of the brand’s global expansion plan to unveil a total of 58 new stores throughout the year.

Looking forward, Angelides remains confident in the growth potential of the Reiss brand. Although he expects more cautious budgeting for 2020, he believes there is still ample room for scaling up and sustainable growth. The brand has recently launched a new campaign highlighting its origins in 1971, showcasing the SS20 collection of sharply tailored silhouettes and a minimalist aesthetic. New products will continue to be introduced in stores and online until June, further expanding Reiss’ product offerings.

Despite the challenging retail landscape, Reiss has demonstrated that strategic investments and a customer-focused approach can lead to success. With its plans for further expansion and a strong brand identity, Reiss is well-positioned for continued growth in the fashion industry.

Useful Links:
Reiss Official Website
Business of Fashion Article on Reiss’ Sales and Profit Growth