Rixo sales up 9.1 percent but profit drops

Vintage inspired womenswear brand Rixo grew sales by 9.1 percent to 19 million pounds for the year to July 2, 2023.

In a filing with the Companies House, Rixo said, adjusted EBITDA fell to 3.2 million pounds and operating profit declined to 2.3 million pounds due to higher administrative expenses.

During the year under review, the company expanded its retail presence including a flagship store on London's King’s Road and Carnaby Street, where there is a high level of international footfall. The brand operates three stores in London.

In the current fiscal year, Rixo plans to open new stores in the UK and internationally, where the business can leverage its existing brand awareness from its wholesale trading partners.

Rixo also continues to strengthen its team with the addition of 106 employees within the functions of design, buying and merchandising, marketing ecommerce, retail, wholesale and head office.