Belstaff full year turnover increases by 18.9 percent

Turnover at Belstaff International for the year to December 31, 2022 amounted to 59.7 million pounds, an increase of 18.9 percent.

The company said in a filing with Companies House that strong growth was achieved across retail stores and wholesale.

The gross margin percentage remained at the previous year’s level at 19.8 percent. Gross profit for the year increased to 11.8 million pounds. Operating losses however increased by 9.7 million pounds to negative 14.2 million pounds.

Belstaff said that the business objective is to grow both revenue and profitability, which begins with renewed focus on brand image and heritage.

The company has introduced refreshed visual identity, launched new product categories and new technical fabrics. A new retail concept was also introduced at the brand’s Regent Street store in London, “which puts modern lens on the brand’s motoring heritage”.

The existing store portfolio is also being refurbished in line with the new design “while new opportunities are identified in strategic brand-relevant locations”.

The wholesale customer portfolio is constantly monitored to ensure that Belstaff forges strong brand partnerships “that are consistent with this image, while also raising market awareness and maximising returns”.