Mike Coles, group md at Blues Group, on a positive first part of 2024, continuing momentum and the “energy and excitement” at retail.
LicensingSource.net catches up with a selection of licensees across a number of categories to find out their expectations for summer trading, how sell-through is going in their respective sectors, concerns and what they are most looking forward to as Q3 approaches.
Today: Mike Coles, group md, Blues Group.
“We have seen a positive start to 2024 and sales to date have exceeded our initial forecasts by more than 40%. We are expecting this to continue into autumn and beyond. Our ability to create great designs is certainly a major factor in driving these sales.
It is still very early days, but initial sell-through on the majority of our brands has been excellent. Option count for all the divisions within the group have grown year on year and, with growing consumer confidence, our order quantities are much more significant. My only concerns for 2024 will be much the same as any other supplier or retailer and that is the extended lead times due to shipping from the Far East, which can be mitigated by sourcing closer to home or airfreighting goods in.
This year you can feel there is more energy and excitement at retail and in licensing. I believe the momentum will continue into the last half of the year and we will maintain growth, while also delivering the amazing designs we are famous for.”
This feature originally appeared in the summer 2024 edition of Licensing Source Book. To read the full publication, click on this link.
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