Reiss has filed its accounts for the year to the end of January 2024 with the company saying it delivered a “strong performance” for the 52 weeks, despite the challenging environment.

The premium women’s, kids’ and menswear retailer targets the “affordable luxury” segment of the market and has 262 points of sale in 11 countries but its major focus is the UK.

And the UK was a tough market during the period in question. The cost-of-living crisis, high inflation, rising interest rates, the wrong kind of weather (it was unseasonably warm in September and October 2023), and supply chain challenges due to shipping through the red sea being disrupted were among the problems it faced.

Nonetheless, the company saw total sales rising 8.1% to £346 million. Pre-tax profit rose by a stronger 10.2% to £32.1 million and the company’s net profit increased from £20.74 million to £22.9 million.

The numbers were helped by the company investing in initiatives to drive sales and profits during the year. They included boosting its petites offer and its online exclusives, the launch of a more luxury-focused Atelier collection, expanded age ranges in kidswear, and the addition of new brands. It also signed a partnership with McLaren that will add to its revenue in 2024/25. 

Profitability was boosted too by a major drive on cost control and efficiency as well as by a focus on growth in North America (its second-largest market after the UK) across all channels.

The company is majority owned by Next and during the year Next increased its stake in the group from 51% to 72%.

The period since the financial year ended has seen Reiss continuing to boosts its chances of maximising sales. Initiatives have included the introduction of Mobile Point of Sale capabilities across its nine US physical stores.

It also launched a new collab with Les 100 Ciels, offering “relaxed designs for women and men with contemporary refinement and quiet luxury at its heart”, in October.

And on the UK store front, recent openings have included its South West debut at Gloucester Quays and a Metrocentre debut only last month.