Reiss defies Christmas gloom with 18% sales rise
Written by Hannah McGrath
Reiss has reported an 18 per cent rise in like-for-like sales over the Christmas trading period, as owner Warburg Pincus continues its search for a buyer.
The upmarket fashion retailer said total group sales were up 21 per cent in the seven weeks to 18 January, defying the wider performance of the UK High Street over the festive period.
UK sales grew 19 per cent in total, with like-for-like sales up 15 per cent.
The company has stores in 15 markets, with 82 standalone stores, along with 104 department store concessions worldwide.
Warburg Pincus bought a majority stake in the company in 2016 for £100 million, which valued Reiss at more than £230 million.
Christos Angelides, chief executive of Reiss, said: "We are pleased that Reiss has performed strongly over the Christmas period, which is a continuation of the momentum we have seen throughout the whole of 2019.
“Our customers are responding positively to the steps we have taken to improve the quality and style of our products and we have introduced the brand to more customers both online and through additional physical points of sale.”