×
122
Fashion Jobs
BESTEAM PERSONNEL CONSULTANCY LTD.
Sales Supervisor / Assistant Sales Supervisor (Fmcg)
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Retail Operations Manager (Station in Kuala Lumpur, Malaysia)
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Assistant Visual Merchandising Manager
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Senior Sales Manager (Printing/Paper Packaging)
Permanent · TIJUANA
SHISEIDO
Senior Manager - Financial Planning & Analysis, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Contract Manager - Financial Planning & Analysis, Finance And Accounts
Permanent · Hong Kong
BESTEAM PERSONNEL CONSULTANCY LTD.
Merchandising Manager - Apparel And Sports Goods (Station in Shanghai, Prc)
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Senior Garment Technician - Lingerie
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Fabric Sales Manager/ Sales Executive
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Factory Manager (Stationed in Bangladesh)
Permanent · CLEARWATER
BESTEAM PERSONNEL CONSULTANCY LTD.
General Manager (Stationed in Bangladesh)
Permanent · CLEARWATER
BESTEAM PERSONNEL CONSULTANCY LTD.
Logistics & Warehouse Manager
Permanent · CLEARWATER
BESTEAM PERSONNEL CONSULTANCY LTD.
National Business Trainee (3d Artistist / Designer) - 2-Year Programme
Permanent · CLEARWATER
BESTEAM PERSONNEL CONSULTANCY LTD.
Quality Manager
Permanent · TIJUANA
BESTEAM PERSONNEL CONSULTANCY LTD.
Divisional Sales Manager
Permanent · TIJUANA
SHISEIDO
Senior Manager - Omnichannel Strategy & Innovation, Digital Shared Services
Permanent · Hong Kong
SHISEIDO
Officer - HR Operations, Human Resources
Permanent · Hong Kong
NIKE
HR Manager/Assistant Manager - Hrbp (1-Year Contract)
Permanent · Hong Kong
BESTEAM PERSONNEL CONSULTANCY LTD.
Sales Executive
Permanent · CLEARWATER
TRIUMPH
Brand Merchandising Manager
Permanent · KOWLOON BAY
BESTEAM PERSONNEL CONSULTANCY LTD.
Marketing Executive / Marketing Supervisor / Assistant Marketing Manager
Permanent · CLEARWATER
BESTEAM PERSONNEL CONSULTANCY LTD.
Global Product Compliance Specialist
Permanent · CLEARWATER
Published
Sep 22, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Belstaff sales rose last year but losses persist

Published
Sep 22, 2021

UK-based luxury brand Belstaff has released its results for the whole of 2020 and it was a decidedly mixed bag with clear improvements in some areas but the INEOS-backed business was still loss-making.


Belstaff



On the plus side, it said that despite the pandemic, turnover rose 9.4% to £43 million. The gross margin percentage also improved from 10.8% to 17.3% year-on-year. And gross profit for the year hit £7.47 million compared with £4.35 million in the previous year.

And the bad news? The company's net liabilities grew as well, reaching £206.5 million from £175.3 million in the previous year and the operating loss was £20.4 million, almost the same as 2019’s £20 million. Meanwhile, the final loss after tax was over £31 million, wider than the £28 million of the previous year.

The company said it’s continuing to work towards further growing its revenues and boosting profitability – part of which will come through cost reduction – and is refining its retail network as it searches for “new opportunities in brand-appropriate locations that are commercially sized and at realistic rental levels”.

It added that, despite the rise in sales and gross profitability last year, the ongoing pandemic presented a number of operational and financial challenges. The company was forced to temporarily close its London head office and its UK stores for part of last year but managed to set up an efficient working-from-home operation. It also moved quickly to protect its liquidity and took advantage of UK government initiatives to reduce payroll costs, business rates and other expenses.

Importantly, it also focused heavily on its e-commerce operations and said that sales through online channels recorded fast growth and were what was responsible for the increase in turnover and gross profit. That’s particularly encouraging given that many companies that saw rising online sales still didn't manage to surpass total sales of the pre-pandemic period.

The company also said that it saw some negative effects from the changes linked to Brexit, but said these were marginal.

Copyright © 2021 FashionNetwork.com All rights reserved.