With a substantial 29.94% surge in turnover to £114 million, EBITDA up by 35.58% to £5.5 million, and a net profit of £5.3 million, Hackett demonstrates a successful turnaround from the £1.6 million net loss in the previous year.
Strategic expansion includes the opening of a full-price store, contributing to an impressive 46.6% rise in overall retail sales. Operating 14 full-price stores in the UK and six outlets by the fiscal year-end, Hackett’s retail presence strengthens. Wholesale records a growth of 22.1%, while e-commerce thrives with a 27% sales increase and a 9% rise in website visitor traffic, indicating enhanced consumer engagement.
The Re-Energize Hackett initiative, encompassing a redesigned website, a refreshed logo, and increased communication investments, establishes a dual focus on the core HT London and an elevated Savile Row collection. This strategic positioning leads to pricing adjustments and varied assortment across channels. Retail, especially in full-price, and e-commerce deliver outstanding performance, marked by a robust summer season and strong activity during the 2022 Black Friday to Christmas period.
Beyond the reported period, Hackett sustains its evolution with a significant store launch on New Bond Street and the introduction of its premium line in November 2023. Smaller-scale launches, like the collaboration with David Gandy Wellwear, further showcase the brand’s commitment to innovation and growth.