Dune London, specifically its parent company Dune Topco Limited, has recently reported robust financial results for the year ending in January. The company’s turnover experienced significant growth, with profits also on the rise.
In terms of headline figures, Dune London saw its turnover climb to £141.5 million from £117.1 million, while gross profit increased to £69 million from £52 million. Operating profit surged to £7.6 million from £4.7 million, and EBITDA reached £10.9 million, up from £6.3 million. The group’s net profit reached £5.6 million, surpassing the £3.9 million recorded in the previous period.
The renowned footwear and accessories retailer attributed these strong results to the successful execution of its brand elevation strategy and significant progress in key growth areas.
During this period, Dune London actively managed its store portfolio, opening 16 concessions, three full-price stores, one outlet store, and expanding its presence on five new third-party web platforms.
Additionally, it initiated the launch of 20 new stores and concessions in collaboration with franchise partners in regions including the Middle East, India, Nigeria, Chile, and Malta. It also expanded its footprint with existing and new wholesale accounts in both the UK and international markets.
Notably, Dune London entered the North American market through concessions and online channels utilizing wholesale and dropship models. The company’s focus on growth in this market is evident, as it appointed a Vice President of Sales for the US.
While the company acknowledged the supply chain challenges due to the pandemic’s impact in the first half of the year, it actively managed its stock position, ensuring minimal disruption to its operations.
Looking ahead, Dune London has outlined a clear strategy to enhance its brand through improved product offerings, advanced brand marketing, and the delivery of a premium shopping experience to its customers. Furthermore, it is taking significant steps to enhance the sustainability of its product supply chain and operations.
The company remains committed to opening new stores in high-traffic locations with favorable rental terms and continuing its international expansion. Notably, in March, after the period in question, Dune London acquired the remaining 50% of its Swiss joint venture, granting it full control over the business in this region.
On the product front, the company is actively pursuing growth opportunities, particularly in men’s fashion and accessories.