Hackett bringing elegance to the rest of the world

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HACKETT, the quintessential English menswear brand, reported a strong annual performance yesterday with turnover increasing 27 per cent in the last year.

The limited company said UK and Ireland retail, wholesale and global inter-company sales rose to £96m during the year ending March 2012.

Profit before tax and interest increased 26 per cent to £6.2m.

London-based Hackett is a big customer of Yorkshire mills and sources textiles from companies William Halstead and Charles Clayton in Bradford, Alfred Brown and Abraham Moon in Leeds, Bower Roebuck in Holmfirth and Brisbane Moss in Todmorden.

The company said retail sales rose 15 per cent and were especially strong in the first half of the year, helped by its recently opened concession in Heathrow and the relocation of its store in the Canary Wharf financial district.

The company is refurbishing its London stores in Sloane Street and Covent Garden and has launched a new concept store in Spitalfields. Hackett has one store in the North of England and is located at the McArthurGlen Designer Outlet in York.

Wholesale was the stellar performer during the year with sales up by 31 per cent.

A full year’s trading in new territories, notably the Middle East, combined with sustained growth in France, Germany, Switzerland and Spain drove the growth in wholesale. Franchises and ‘shops in shops’ also contributed.

“Looking forward, Hackett aims to maximise the positioning of the brand and to continue global expansion especially in the Far East,” said a spokeswoman.

“Retail expansion will also continue across mainland Europe.

“To help achieve the potential of the brand overseas, Hackett will continue to seek business partners in the more challenging markets to bring local expertise and knowledge.”

Hackett, owned by Spanish clothing giant Pepe Jeans SL, is opening in new territories this financial year with franchise partners in China, Malaysia and India.

Hackett also has a joint venture with Coach, the US luxury brand.