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Reiss profits nearly double thanks to ‘Kate effect’ Wednesday, 28th December 2011
Duchess of Cambridge, Kate Middleton, wearing a Reiss dress for Canada Day earlier this year
The high street clothing chain saw profits nearly double thanks in part to the Duchess of Cambridge’s well-documented patronage.
Accounts filed at Companies House saw sales increase from £77.7 million to £87.6 million, while operating profits jumped from £4.3 million to £8.5 million in the year to 31 January 2011. A pre-tax loss of £2.1 million was converted into a profit of £3.64 million.
The accounts attribute the lift in profits down to a tighter control of costs and the brand being given a new lease of life.
“The launch of a new sub-brand, Reiss 1971, was the starting point to make the brand much cooler and sexier, to broaden its appeal. Every aspect of the brand was appraised, in order to highlight this and to make a more dynamic and sexier statement.”
Reiss trades from 114 different shops or concessions in 14 different countries.