Irish sales soar at top fashion brands
Published 17/11/2016 | 02:30
Three of the world's best-known clothing brands, Tommy Hilfiger, Hugo Boss and Calvin Klein last year enjoyed increased sales here as the clothing retail sector continued to recover.
New figures show that revenues at Hilfiger Stores Ireland Ltd last year increased by 19pc to €21.9m, while sales at Hugo Boss Ireland Ltd increased by 15pc to €10.8m.
However, both firms sustained a drop in pre-tax profit as a result of expansion costs.
Hilfiger Stores continued to invest here and benefited from the relocation of its store at the Dundrum Town Centre, with pre-tax profits last year declining by 33pc to €449,000.
The brand - founded by the American fashion designer of the same name - has stated that it intended to open up new stores here next year.
Hugo Boss last year opened up its first store on Dublin's Grafton Street and pre-tax profits last year declined by 38pc from €578,507 to €357,849.
Figures filed by Calvin Klein Stores Ireland Ltd show that it recorded a 41pc increase in pre-tax profits to €78,403.
This followed revenues increasing by 41pc, going from €2.77m to €3.92m.
According to the directors' report for Hilfiger Stores Ireland Ltd, sales last year were driven by a strong collection and additional sales realised through the relocation of the Dundrum store.
The directors state that next year will show further growth in sales through continuing operations, additional store openings and concession opportunities.
They state that after 2017, the aim will be to shift from top line to bottom line increase. "There will be a focus on realising sales growth through existing stores with a steady or reduced cost," they said.