Birkenstock UK results; new Beyond Retro store; Coty renews Adidas deal

By

Sandra Halliday

Published
August 20, 2023

Revenue at Birkenstock’s UK business rose by around 50% in the year to 30 September 2022 but profits dropped by nearly a quarter as higher costs dented earnings.

Turnover rose to £34.5 million from £23.2 million, boosted by a £10 million wholesale revenue rise to £30.1 million. It has four UK stores and retail sales there more than doubled to £4.5 million. But pre-tax profit dropped to £727,200 from £954,000 as a bigger wages bill and rising store lease costs had a big impact.

UK vintage retailer Beyond Retro will open a new store in Cardiff City Centre on 23 August. The new 6,000 sq ft space is located on The Hayes, Morgan Quarter, opposite Cardiff’s St David’s mall, putting it in a prime location for shoppers, with the centre attracting over 37 Million visitors a year. The Cardiff outlet, which will eventually hold over 10,000 items of clothing, takes the chain’s UK store count to seven, with existing locations in London, Bristol and Brighton. It also has shops in Sweden and Finland. 

Beauty giant Coty has renewed its long-term license agreement with Adidas. Sue Nabi, Coty’s CEO, said: “Adidas is perfectly positioned to capitalise on the new well-being and athleisure trend in beauty amongst today’s consumers. In recent months, we have successfully elevated the bodycare equity of Adidas, moving into products that are focused on enhancing sports and skincare credibility. With the launch of the Adidas Active Skin and Mind range, we are positioning [it] as a leading premium bodycare line with superior ingredients and sustainable packaging. Consumers have responded very positively to the launch.” The company has also has forged a partnership with Su Yiming, the Chinese gold medallist in snowboarding, as an ambassador for the bodycare brand.