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Aspinal of London's multi-channel approach drives sales growth

By Prachi Singh

20 Jan 2023

Business

Image: Aspinal of London

Aspinal of London has reported 15 percent sales growth in the month of December.

Aspinal saw strong performance across both its online and retail channels over the Christmas period.

"Aspinal's post-covid strategy was to focus on our roots as an online business supported by only the most prestigious and select retail partners and our unique flagship stores. I'm extremely pleased this strategy is proving successful, and I'm proud to see our retail stores’ phenomenal performance over Christmas," said Iain Burton, chairman and founder of Aspinal of London in a statement.

Aspinal of London reports increase in full year sales and profit

The company’s recently filed accounts for the year ended March 31, 2022, show a strong recovery since the pandemic, with sales for that financial year growing by 29 percent to 29.8 million pounds.

The company's underlying profits more than doubled to 4.1 million pounds and EBITDA reached 5.4 million pounds.

This positive performance in the Christmas trading period, the company said, has resulted in Aspinal posting sales increase of 23 percent for the nine months to December 31, 2022.

Aspinal of London posts strong sales growth

The company's online sales for December saw a 15 percent increase on last year, while online sales from international customers grew 35 percent, with the USA dominating. Online sales from the Chinese market were down 5 percent versus last year, attributed to the ongoing Covid lockdown restrictions the market faced at the end of 2022.

Having taken the decision to close ten stores during Covid, Aspinal reported a 40 percent rise in retail sales during the month under review. In its two London standalone stores, Aspinal’s Regent Street flagship saw a 30 percent uplift in sales, Royal Exchange saw a 90 percent uplift in sales, while Aspinal's Harrods concession achieved a 50 percent uplift in sales in December.

Aspinal's handbag product category achieved a 14 percent increase in sales in December, with the Lottie handbag style reporting 53 percent like for like growth, boosted by the success of a marketing campaign launched in October entitled "Love Lottie". Sales from Aspinal's Mayfair handbag family grew 12 percent year on year.

Aspinal of London