Ceo Colin Porter praises ‘carefully managed’ product extension strategy.
Lifestyle brand and retailer Joules has reported an increase in group revenue for the 52 weeks ending May 26, 2019, with its strong property expansion programme helping to boost the coffers.
Group revenue increase by 17.2% to £218.0 million (up 16.8% in constant currency).
In addition, international revenue was up 43.5% and now represents 16.1% of group revenue.
Colin Porter, Joules’ ceo, commented that its “carefully managed” product extension strategy contributed to the results.
“Joules has delivered another strong performance this year with growth across channels and product categories, both in the UK and internationally,” he said. “These results in a challenging retail sector reflect the strength and appeal of the Joules brand, the flexibility of our ‘Total Retail’ model, and the success of our carefully managed product extension strategy.
“Looking ahead, whilst the consumer retail environment is anticipated to remain challenging, particularly in the UK, the Board and I believe that Joules remains well-positioned for continued success both in the UK and our target international markets.”
Recent licensing extensions for Joules include tie ups with holidaycottages.co.uk and Another Place, The Lake, as well as a new clothing and accessories line for babies featuring Peter Rabbit.
It was also awarded Best Licensed Fashion or Talent Brand 2019 at the Brand & Lifestyle Licensing Awards in April. The Joules stationery and gifting collection from Portico Designs also picked up Best Brand Licensed Gifting Product or Range.
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