Premium womenswear brand Me+Em has filed its accounts for the year to January and they show strong progress at the business.
It’s reported healthy growth in both revenue and profits despite the backdrop of market uncertainty and overall cautious consumer spending across the premium and luxury fashion sectors.
Group revenue increased by 24 per cent to £147.9M, driven by the success of its international business where revenues increased by 50 per cent. Gross profit was up 24 per cent to £82.3M with an improvement in margin to 56 per cent from 55 per cent.
The company referred to its sales growth globally as “robust” and that’s clearly justified, particularly for the US where it saw its strongest performance as revenues there increased 61 per cent to £47.3M, accounting for 32 per cent of its total sales. The period marked the successful launch of its first international physical store (on Madison Avenue in New York) and that was followed by additional US locations, including New York Soho and in Dallas, Texas.
As for its UK market, the company relocated its Marylebone store in London to a larger flagship location and also refurbished and expanded its original Kings Road Store to offer a larger space and improved personal styling services.
Overall, the company said global new customer acquisition was up 12 per cent with US online new customer acquisition jumping 32 per cent as it invested heavily in marketing services with an emphasis on digital.
