Handbag guru Hindmarch plans global expansion
British luxury handbag brand Anya Hindmarch plans expansion in the Middle East, Asia and the US, despite posting a 60 per cent fall in profits for 2011. It will open an outlet in Harvey Nichols in Kuwait next month and a store on Madison Avenue next year, as well as investing across the Middle East, Korea, Hong Kong and Japan.
Last month the business acquired a new part-owner: the Qatar Luxury Group, Sheikh Mozah's investment vehicle, which bought the 38 per cent stake owned by private equity group Kelso Place.
Last week, the company reported a 16 per cent jump in turnover to £23.2m, but the costs of growth cut profit to £330,000.
Worldwide sales jumped to £40m and gross margins increased by 20 per cent.
Chief executive James McArthur, said: "We are on track with hitting our strategic plan milestones. We are continuing to invest, which is clearly the right decision given the tremendous excitement and energy around the brand".
scienceScientists find the answer to a question that even puzzled Darwin
arts + entsThe 'Friends' actor on his new role as campaigner on addiction issues
Sun will 'flip upside down' within weeks, says Nasa
Colin Farrell reveals ‘affair’ with Elizabeth Taylor: 'She was my last romantic relationship'
Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
India-US row over escalates over arrest of diplomat Devyani Khobragade in New York
Peter O'Toole: Tales of the late film icon
- 1 Facebook 'self-censorship': study records when you don't post to find more ways to share
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 4 Vitamin pills are a waste of money, offer no health benefits and could be harmful - study
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£44999 - £60001 per annum + Benefits: Pro-Recruitment Group: A Top Tier firm i...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Implementation...
£50000 - £65000 per annum + benefits + bonus: Harrington Starr: Project Manage...
Negotiable: Harrington Starr: My client deliver into the Investment Managemen...