UK fashion retailer Boden is expanding into China – despite a profit drop.
Based in London, where it already has one store, Boden primarily sells online and has markets in Australia, Germany and the US. It now plans two more brick-and-mortar stores in its home market.
Boden is launching into China via Tmall this month, firstly with its children’s Mini Boden range.
In its report for the year to December 31, Boden recorded a slide in pre-tax profits to £23.9 million (US$31.5 million) compared to £32 million the previous year, but sales rose from £280.7 million to £283 million.
CEO Julian Granville says Boden has attracted new customers this year and has started a major capital program with the construction of a warehouse in Leicester.