Jan 10, 2018
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Aspinal of London sees sales surge despite Harrods glitch

Jan 10, 2018

Accessories brand Aspinal of London has praised its new Regent Street flagship store, which opened in December, and shrugged off the pricing error that made its handbags available for as little as £8 on Harrods’ website in December.

Photo: Aspinal of London

New CEO Lisa Montague, in the role since October 2017, said the website blunder had been dealt with “very well” and she had “no complaints”, reported the Evening Standard.

The luxury department store said the glitch was linked to a supplier computer pricing system and cancelled all orders.

While store sales remained flat, online sales increased by 20% during Christmas, with Lottie bags and men’s wallets emerging as bestsellers.   

The results come after a good FY 2016/17, when Aspinal saw sales increase by 24% to £29.4 million. A strategic investment in digital market channels, such as [aid search, organic search and partnerships, and a focus on conversion rate optimisation delivered a 36% rise in e-commerce sales for the period ended 31 March 2017.

The brand opened new stores in Leeds and Edinburgh, as well as concessions in House of Fraser Metrocentre in Gateshead and London Victoria. Meanwhile, international expansion via wholesale and franchises boosted an increase in revenue of 45%.

Aspinal said China is a key priority for the group and represents a significant opportunity for growth, while sales in Europe and the Middle East remained strong.

Pre-tax losses narrowed from £1.6 million to £782,000.

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