Kate’s coat helps Hobbs sales soar
UPMARKET fashion brands favoured by the Duchess of Cambridge and her sister Pippa Middleton have proven popular over Christmas.
Hobbs, Radley and Reiss have all reported soaring sales over the festive season in a show of strength from British fashion.
Hobbs sales almost doubled in the 13 weeks to December 31, thanks to opening a new store in New York. It has won fans such as the Duchess of Cambridge, who wore a purple Hobbs coat on Christmas Day (pictured).
Total sales rose 14.3pc, while international shoppers drove a 97.9pc jump in overseas sales – partly driven by an expansion to its tie-up with department store Bloomingdales. But it has experienced a turbulent few years, with former Warehouse boss Meg Lustman brought in to lead a turnaround in July 2014.
It is understood that Hobbs’s private equity owners 3i has put the brand on sale.
The increased spending follows strong results from larger retailers Marks & Spencer and Debenhams last week.
Reiss said sales jumped 19.7pc in the six weeks to January 7, driven by international expansion and online shoppers. The retailer, which sells to 17 countries, saw overseas sales jump 69.4pc, driven by store openings.
Until April last year the brand was run by founder David Reiss, who took on his father’s gentleman’s outfitters in 1971 and grew it into a fashion label.
Years later it expanded into women’s clothes and was boosted when the Duchess of Cambridge wore a Reiss dress to meet President Barack Obama and his wife Michelle in 2011. It instantly sent traffic surging on the company’s website – ca using it to crash. Reiss remains as chairman after a majority stake was sold to private equity firm Warburg Pincus last year.
The success at Hobbs and Reiss was replicated at handbag and accessories brand Radley, which posted a 9pc rise in sales in the six weeks to Christmas Day. It has become popular with lovers of ‘affordable luxury’ labels, with Miss Middleton and model Erin O’Connor favouring the brand.
The boost for upmarket brands came as budget fashion retailer H&M posted a 6pc rise in sales in December – the slowest pace since September and behind expectations.