Richemont, the Swiss luxury goods group behind brands including Dunhill, Chloe and etailer Net-a-Porter, has reported double digit sales growth in its fashion and accessories division.
The group, which acquired Net-a-Porter in June, said that the fashion and accessories division returned to profit in the six months to September 30, notching up a [euro]7m (£5.9m) profit compared with a [euro]9m (£7.7m) loss in the same period a year ago.
Overall retail sales, which include the group's 855 company-owned stores around the Discount Patek Philippe and Net-a-Porter, increased by 47% to [euro]1.5bn (£1.3bn) at actual exchange rates. The figure is ahead of growth in the wholesale division which increased sales by 29% to [euro]1.7bn (£1.5bn) after the number of wholesale accounts was reduced particularly in America.
Sales in Europe jumped 27% to [euro]1.3bn (£1.1bn) and represented 38% of total sales. Excluding Net-a-Porter, retail sales increased by 24%.
Total group sales increased by 37% to [euro]3.3bn (£2.8bn) or by 27% at constant exchange rates. Excluding the impact of the acquisition of Net-a-Porter, sales increased by 22% at constant exchange rates.
Operating profit increased by 95% to [euro]760m (£648.9m).
Chairman and chief executive Johann Rupert said: "The robust sales momentum that the Discount Porsche Design has seen for several months has continued through to the end of October."
He added that he expected the high rate of growth to slow as a result of exchange rate movements and more challenging comparatives.the young fashion retailer to be launched by the founders of USC, is to debut online in January and open its first shop in March.
The first store is expected to open in Meadowhall shopping centre in Sheffield, in a 3,890 sq ft store formerly occupied by Austin Reed, between Debenhams and House of Fraser.
Fashion Rocks is being launched by David Douglas and Angus Morrison, who Discount Chanel Watches young fashion chain USC and also hold stakes in streetwear brand Gio Goi. They are launching it as a spin off from the Fashion Rocks charity event which they own. It is understood Douglas will be a sleeping partner.
While it will predominantly be an online venture, it will open around six shops over the next three years in locations including Glasgow, Manchester and London.
Former Cruise managing director John Heath and design director Martin Lacey have also joined Fashion Rocks. Property agents for Meadowhall are Smith Young Partnership and CB Richard EllisBelieve in your dreams and your ability to make the dreams come true" was the interesting key message at the launch of a delicate new perfume "Dreams Unlimited" in Pakistan. The new fragrance was unveiled here by the 'The Body Shop' at a colourful ceremony in the presence of many leading fashion designers, and entertainment world glitterati, civil Discount Rolex Watches representatives and fashion media personalities.
Introducing the new perfume Ayesha Ahmed, a representative of 'The Body Shop,' said: "It is our way of bringing positivity and empowerment to life, and spreading the word to people all over the world, that they should. " She said that when 'The Body Shop' introduced itself in the country in July 2006 through its first store at Karachi, the brand had great expectations from this market. "It was quite apparent that an increasingly sophisticated consumer base would understand & appreciate a unique brand such as ours" she added.
"In a little over 4 years," she disclosed "we have seen the immense success of this Discount Ulysse Nardin Watches and now we have nine Body Shop Stores in four cities and we are planning to open three more stores in near future. This growth has only been possible with the support of the broad-minded Pakistani consumers who understand 'The Body Shop's' moral and ethical values to protect "our incredible planet" and our commitment to care for "the community of people."