New store openings boost Crew Clothing profits

Garment retailer Crew Clothing has announced that its turnover increased by 40% to $82.7 million in the year to December 26th, 2021.

One of the main reasons for this sales growth is that the company opened 10 new stores in 2021.

Over recent years, many high street fashion retailers have closed. Many blame the growth of online sales, particularly during the Covid pandemic, for their demise. Crew Clothing, however, has responded to difficult trading conditions by expanding its online operations and opening more stores. Its ecommerce sales increased by 14% in 2021. Sales growth has required an expansion of warehouse storage capacity with more heavy duty garment rails added to hold new clothing lines.

The CEO of Crew Clothing, David Butler, said in a statement that the company had a clear strategy of expansion and aims to become a British high street leader. He said:

“Crew has shown remarkable resilience over the last few years, despite exceptionally tough trading conditions.”

The business has also expanded through partnerships, including a successful first season with John Lewis. The company also has a thriving sports sponsorships program with Henley Royal Regatta, Williams Racing, Legends Golf Tour and the Lawn Tennis Association.

Crew Clothing has plans to expand outside of the UK. Potential growth markets include Western Europe, Australia and the Middle East. Overseas growth will be achieved by a combination of online sales and marketplace partnerships.

Further expansion plans are expected to be announced soon, with Butler telling people to keep an eye out for what’s to come.

Posted by Katrina
25th July 2022
Retail & Warehousing

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