Radley+Co Limited, owner of the Radley London label, reported its results for the 53 weeks ending April last year. The company posted sales of £ 77.3 million, up 2.1 per cent, driven by a 12 per cent increase in the US, though UK sales declined by 1 per cent.
The company saw robust growth in the US, with direct-to-consumer (DTC) channels accounting for 63 per cent of sales, up from 47 per cent the previous year. Radley expanded its presence on Amazon, leading to a 38 per cent growth in its marketplace business. Drop ship fulfillment with major partners grew by 73 per cent, proving to be a profitable model and a focus for future expansion. Additionally, growth in the outlet channel supported top-line growth, though it remains in a proof-of-concept phase. However, the group’s US wholesale business declined by 26 per cent, reflecting a strategic shift towards other channels.
In the UK, sales were impacted by disruptions from a new website platform launch, causing online sales to drop by 20 per cent. However, physical sales grew by 8 per cent, particularly in central London, where store and concession sites more than doubled turnover. The concession business in John Lewis saw a 15 per cent increase in-store sales, while the UK wholesale business, excluding clearance deals, grew by 12 per cent due to a rebound in post-pandemic travel retail.
The company announced that the web platform issues have been resolved, and online sales have since recovered.
