Tory Burch UK sales rise, still loss-making
Tory Burch appears to be doing well in the UK, on the sales front at least, with the upscale American fashion brand seeing surging revenues in Britain. The privately-held label saw sales of £19.8 million last year, a strong rise on the prior year’s £15.4 million revenue.
However, it remains loss-making in the UK with its latest set of accounts for the period to December last year showing an operating loss of almost £237,000, albeit one that was lower than the prior year’s £761,666 loss. Its net loss for the period was £791,602, better than the previous £917,632.
Its sales last year were boosted by the opening of a major flagship in the heart of Regent Street, not far from a raft of rival American brands such as Michael Kors, Coach, J Crew and Tommy Hilfiger on what has become one of London’s premier shopping streets and a home to many upscale flagships.
But it’s not the only store it operates in the UK and the company is making the most of the buoyant luxury market in London with stores in New Bond Street and Westfield London, as well as concessions in Harrods and Selfridges. It also has a store in major tourist destination Bicester Village.
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