Feb 26, 2023
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Rixo has strong year as sales and profits soar

Feb 26, 2023

High-end womenswear brand Rixo saw its sales jumping ahead in the year to June 2022, new accounts filed at Companies House have shown.

Backstage at Rixo's recent London Fashion Week show

The business – which was established in 2015, and has grown steadily based on its vintage-inspired and contemporary pieces – operates both through its own stores, via wholesale to Indies and department stores and via e-commerce.

And it said company sales grew to £17.4 million in the year in question, from £10.3 million in the previous 12 months. In 2021 turnover had fallen by only 3.3%, so the almost-70% jump is undeniably impressive.

Meanwhile adjusted EBITDA rose to £4.8 million from £3.7 million and total income for the year was £3.6 million, a rise compared to the £2.8 million of the previous period.

The company also said it "strongly" grew through all of its channels, with its two own-stores and wholesale ops in particular, benefiting from reopening post-Covid. 

E-commerce grew as well on the back of the firm’s investment in digital marketing.

Still relatively small (at the end of the period it had 69 employees within design, buying and merchandising, marketing, e-commerce, retail, wholesale and head office ops), it has a much higher profile than its size suggests.

And it has created strong brand awareness through both PR and paid-for marketing (although it stressed that this is “cost-efficient”). Particularly important has been the brand’s popularity among celebrities, and this has been a key driver of sales in its core UK market.

Post-year-end, the company has continued to grow and opened a new store in Carnaby Street to take its own-store total to three, as well as investing further in e-commerce and wholesale.

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