Anya Hindmarch is expanding in the US and Middle East, following a 16 per cent sales boost last year. The British label will open a concession in Harvey Nichols Kuwait and a flagship store on Madison Avenue in New York in 2013. Investment is also planned in South Korea, Hong Kong and Japan.
The company’s turnover increased to £23.3 million last year, but growth costs cut the label’s profits to £330,000. Worldwide sales rose to £40 million. Last month, private investor group Qatari acquired a minority stake in the label, in order to help speed up the brand’s expansion.
"We are on track with hitting our strategic plan milestones," Anya Hindmarch chief executive James McArthur told The Independent. "We are continuing to invest, which is clearly the right decision given the tremendous excitement and energy around the brand."
Source: Vogue