AllSaints enjoys record sales as shoppers splash out on biker jackets and boots
Trendy retailer AllSaints enjoyed record sales and profits thanks to shoppers brushing off the cost-of-living crisis to splash out on biker jackets and boots.
The company, which is owned by private equity giant Lion Capital, saw profits surge 50 per cent to £58.6million in the year to the end of January.
Customers have continued to buy its more expensive items, such as a trademark leather jacket which sells for around £319 and has been worn by celebrities including singer Nicole Scherzinger.
Sales up: AllSaints , which is owned by private equity giant Lion Capital, saw profits surge 50% to £58.6m in the year to the end of January
Sales at the company and its US subsidiary, John Varvatos, rose 36 per cent to £457million, with bosses praising positive reception in Asia.
Bosses echoed other luxury brands such as Mulberry and Burberry in pointing to an enthusiastic reception from shoppers in China after Covid curbs were eased earlier this year.
Boss Peter Wood said the brand ‘continues to go from strength to strength’ and pointed to its recent debut into mainland China.