AllSaints achieves robust EBITDA growth

Contemporary fashion brand AllSaints reported a marginal revenue increase of 0.6 percent to 459.5 million pounds for the year to February 3, 2024.

However, gross profit margin for the year under review increased to 63 percent, pre-operating exceptional EBITDA rose 18 percent to 68.9 million pounds and post-operating exceptional EBITDA was up 26 percent to 74.4 million pounds.

Commenting on the annual results, Peter Wood, CEO of AllSaints, said: “Our clear focus on growing our wholesale, franchise and licensing partnerships around the world means that we are reaching more customers than ever before. This has allowed us to improve the quality of our retail revenues by reducing our promotional and markdown activity despite continued challenging market conditions. This in turn has delivered improved margins and a new best-ever EBITDA performance for our group.”

Operational highlights of AllSaints results

The company said in a release that the growth was a result of a reduction in promotional and markdown activity, as well as a changing sales mix due to the focus on growing wholesale, franchise and licensing to reach more customers.

AllSaints brand revenue also increased by 0.6 percent to 393.5 million pounds. Retail including stores and ecommerce saw a decline of 2.9 percent to 316.5 million pounds, while wholesale, franchise and licensing revenue increased by 18.4 percent to 77 million pounds.

John Varvatos brand revenue remained flat at 66 million pounds.

Operating profit increased by 40 percent to 39.9 million pounds, an increase of 11.4 million pounds.

AllSaints expands retail presence, to launch kids and fragrance range

During the year, the company opened an AllSaints new concept store in Los Angeles, the first AllSaints store in mainland China in Shanghai, and a new John Varvatos store in Houston.

The company added that the year ahead also sees the expansion of the group’s licencing partnerships for AllSaints in particular, with the launch of the new “SmAIISaints” kids wear in May, and the launch of new AllSaints fragrance collection, men’s tailoring and underwear collections later in the year. In addition, following a successful launch of sunglasses in 2023, an optical eyewear range was launched in the spring.

“2024 is the 30th anniversary of the iconic AllSaints brand, and is shaping up to be another hugely successful and eventful year for us. Our new fragrance collection and our launches into new areas such as SmAllSaints, eyewear, underwear and men's tailoring are a great demonstration of the versatility and strength of our brand,” added Wood.

The group relaunched its first UK store to showcase the new AllSaints store design concept in the Trafford Centre in Manchester in March. In July, AllSaints opened a new, third party operated European distribution centre in the Netherlands to support future growth plans across Europe with both new and existing concession and wholesale partners.