The Fragrance Shop defies high street gloom
The Fragrance Shop, the UK'sÂ leadingÂ independent fragrance retailer, is going from strength to strength after enjoying another bumper trading year, with like-for-like sales increasing by 6%.Â Â
In total, sales increased by 14% on continuing trading activities with trade boosted by NPD and blockbuster launches from brands such as Chanel, Jean Paul Gaultier and Emporio Armani.Â Luxury continues to boost sales with increased distribution on Tom Ford and Dior among fragrance driving sales.
The Manchester-based retailer, which operates 214 stores nationwide, said total consolidated net sales rose to Â£121m underpinned by a strong Like-for-like performance of 6%.Â Â An ongoing expansion in its store portfolio fuelled further growth, with the retailer opening 33 new stores in the last trading year.Â In addition, the retailerâ€™s online operation continues to increase in popularity with year-on-year ecommerce sales rising 27%.
Underlying group profitability (EBITDA) prior to exceptional items rose by 9.2% to Â£16.5m.
Sanjay Vadera, Chief Executive of The Fragrance Shop (pictured above), said: â€œWe are delighted to have achieved another outstanding year, given the challenging economic climate.Â Â Â Our growth highlights the fragrance sectorâ€™s resilience with NPD and blockbuster launches from brands such as Scandal, CHANEL Gabrielle, Jean Paul Gaultier and Emporio Armani Stronger With You/Because Itâ€™s You by far the top performing launches.â€
"In the last trading year alone, we opened 33 stores and we will continue to expand our store portfolio.Â Â The customer is at the heart of everything we do and we are always evolving our customer strategy to ensure we continue to delight and exceed their expectations in the retail landscape.â€
Customer initiatives have proved extremely popular too including the company's scentaddict subscription service where customers can try new scents without splashing the cash and claim their Â£12 subscription fee back on a largest size purchase.
The whole customer retail experience and staff training is incredibly important to The Fragrance Shop, with continued investment to ensure customers receive the very best service and knowledge from team members.Â The retailer recently increased their database sign ups to over 4 million customers and received a 4.7 customer satisfaction score in Feefo which demonstrates yet again, The Fragrance Shop is the customerâ€™s first choice for fragrance.
Â The Fragrance Shop was founded in 1995 with a single store. It now employs just under 1,400 people experiencing significant growth as a multichannel retailer through its e-commerce website, 214 stores and distribution facility in Manchester.
In December 2017, Sanjay Vadera announces the launch of his revolutionary new beauty concept, Indulge Beauty, both online and in-store at Westfield Stratford City, London.Â The store offers the ultimate experience for all things beauty and male grooming where customers can browse makeup, haircare, skincare, grooming, bath & body and electricals all under one roof.