TFG Brands, the holding company for Whistles and Phase Eight, reported a 47% jump in sales to £127.8m for the six months to 30 September.
Whistles menswear shop
Headquartered in London and led by CEO Ben Barnett and managing director Lee Harlow, TFG Brands is owned by South African retail group The Foschini Group.
EBITDA increased 20% to £16.3m. During the period, a further six stores, 40 concessions and a new online channel were opened across the two brands, and the group’s new markets included Spain and Macau.
Phase Eight’s openings included 19 new international stores and concessions across seven countries. International is expected to represent more than 25% of total full year sales and EBITDA.
Whistles’ openings included branches in Spain – the brand’s first in the country – and Dubai. Stores in Hong Kong and Switzerland will open in the second half of the financial year.
Barnett said: “While UK retail faces well-documented headwinds from the weakness of sterling and rising costs of employment, the operational strength of our brands, together with the financial strength of our balance sheet, is increasingly presenting us with both organic and acquisitive growth opportunities. We are optimistic about the full year and the next phase of our brands’ development.”
TFG Brands operates 22 brands across fashion, jewellery, homeware, sports, outdoor and mobile.