AllSaints opens subsidiary in Spain
AllSaints is set to enter the Spanish market. The British contemporary brand has opened a subsidiary in Spain to ensure the brand's debut.
The Spanish arm of the UK company opened for business at the end of September and is based in Madrid, according to the county’s Official Gazette.
The London-headquartered brand has a presence in more than 18 countries and expects to reach more than 35 markets by 2020. In the past year the brand has opened its first stores in Italy, Turkey, Japan and entered the Middle East.
AllSaints values its international diversity, which said is helping protect the business from currency-related effects. In contrast to many fashion brands which have seen their profits slide on volatile markets, AllSaints has recently announced its fourth consecutive year of growth.
In the year to January 30, the company increased sales by 9% helped by growth in international markets and a healthy ecommerce income. Profits before items rose 18% to £28.5m.
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