Boden crowns success with £9.3m payout to directors
BODEN, the online clothing brand loved by Britain’s middle-classes, paid out £9.3m to nine directors last year following a successful overseas push.
The payout came after international sales helped the chain, popular with Samantha Cameron and Michelle Obama, to offset the effect of the falling pound on costs. Two-fifths of revenues are now generated in the US.
Boden is now gearing up to open its first mainstream store in King’s Road, Chelsea, this month following the success of five John Lewis concessions.
The firm was founded by father-ofthree Johnnie Boden in 1999 and targets married couples between 25 and 50 at the “premium end of mass market”.
After a difficult couple of years, profits rose nearly 10pc to £26.2m in 2017. Sales hit £308m on the back of a 9pc growth in its womenswear division. The brand has just one store in Hangar Green, northwest London, but has been boosting its online presence by launching on Next, French firm la Redoute and European fashion site Zalando.
Earlier this year, former Tesco director Jill Easterbrook joined as chief executive after the firm suffered a 25pc drop in annual profits in 2015. Julian Glanville, the former chief executive, has taken the position of executive chairman, while Mr Boden has taken on the role of creative director.
Ms Easterbrook, who joined in February, has said that the firm is beginning a major investment programme and will open a new warehouse and overhaul its headquarters.
The business originally sold just menswear products, before branching out into women’s clothing and childrenswear in 1996.
Boden, the online brand beloved by Samantha Cameron, saw sales hit £308m on the back of strong growth of 9pc in womenswear