The Fragrance Shop announces bumper results and subscriptions
This week the company revealed that its turnover jumped 5% on a like-for-like basis for the full financial year ending in March to record a figure of £112 million.
The company said that its success was driven by an increasing demand for luxury fragrances, while investment in new store openings has also served to boost revenues.
Scentaddict subscription service
The independently owned business, which is headed up by chief executive Sanjay Vadera, believes that its new ‘scentaddict’ subscription service will also serve to fuel further growth in its coming 2018 financial year.
The new business division has been launched with a dedicated website that encourages fragrance fans to subscribe to regular deliveries that are customised according to their 12 scent preferences.
The subscription service costs £12 per month and ensures a delivery of a travel-sized scent sample. Ordering a full-sized fragrance bottle means the £12 subscription fee for that month is discounted from the order.
More store openings
But the expansion programme will not stop at the subscription service, as the company drives ahead with its store expansion plan, aiming to open its 200th store during this fiscal year, while the number of concession stores at House of Fraser should reach 28.
“We have achieved outstanding like for like sales growth for another year as a result of listening to our customers and giving them what they are asking for; an expanding range of accessibly-priced luxury fragrances, being first to market with exclusives, the best possible retail experience and an expanding store portfolio,” Vadera said.
“Our latest trading figures also demonstrate the resilience of the fragrance sector with luxury perfumes like Dior Sauvage by far the top performing scents.”
