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Retail Spotlight - Reiss sees profits treble

 

Posted At: 16 November 2015 00:00 AM
Related Categories: Retail, Retailers

 

In an economy where we are seeing retailers constantly struggling and consumer confidence rising one month and falling the next, you might not expect to see any retail brands doing well. However, Reiss seems to be bucking the trend.

In its latest figures, the global fashion brand known for its modern, stylish women’s and men’s wear, has shown a trebling of its profits - truly remarkable in the current climate. But there are hard decisions behind this performance that has seen the business build on its impressive 2014 results, when it doubled its profit http://tinyurl.com/osxmuuj

In the previous year, the family-owned business, led by David Reiss, restructured its management team and at the same time scored some major marketing kudos when British royalty, Kate Middleton, confirmed that Reiss was a favourite of hers. This profile has helped drive awareness of the brand, especially across the US. In addition, Reiss has fought to avoid the trend to discount that has been adopted by many other high street brands.

Jump forward to this year and the latest figures are even more impressive;, so how can Reiss top the last two years? David Reiss has said that the next stage of development will be growing the international presence, with the business looking to increase store numbers to 250 globally. It is now working with Morgan Stanley to look at investment opportunities to support this growth http://tinyurl.com/og9fnq8.

Reiss is proving that however challenging a market place is, if you have the right brand and product mix, with strong marketing based on a lean structure you can deliver strong growth, definitely one to watch over the coming years.

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The opinions expressed herein are the personal opinion of the author and are not intended as statements of fact and do not represent the view of SnapShop or Pragma in any way.

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