Dune London makes strides at home and abroad

Dune London — or more specifically its parent company Dune Topco Limited — has filed its accounts for the year to the end of January and they show turnover rising strongly, with profit rising as well.

Looking at the headline figures first, the company’s turnover rose to £141.5 million from £117.1 million and gross profit was up at £69 million from £52 million. Operating profit jumped to £7.6 million from £4.7 million, and EBITDA rose to £10.9 million from £6.3 million. The group’s net profit was £5.6 million, higher than the £3.9 million of the previous period.

The footwear and accessories retailer said the strong results “reflect the effect of successfully executing the strategy of brand elevation, and good progress on key growth platforms”. 

During the period, it continue to actively manage its store portfolio, opening 16 concessions, three full-price stores, one outlet store, and launching on five new third-party web platforms.

As well as this, it opened 20 new stores and concessions in conjunction with its franchise partners in the Middle East, India, Nigeria, Chile and Malta. It has also grown both existing and new wholesale accounts in the UK and abroad. 

Particularly important during the year in question is that it entered the North American market via both concessions and online through wholesale and dropship models. And it’s clearly targeting more growth in that market, having appointed a vice-president of sales for the US. 

The company added that it still felt the repercussions of the pandemic on its supply chain in the first half of the year, which meant shortages of stock at certain times. But it actively managed its stock position and said there was no significant disruption to its operations. 

As for the future, it said it has a clear strategy to elevate its brand through enhanced product and brand marketing and a premium customer shopping experience. It’s also “making importance strides” in making its product supply, chain and operations more sustainable.

The company will continue to open new stores in high football locations where it can get attractive rental terms and continues to focus on growing abroad. For instance, as well as that important American VP appointment, after the year in question ended – this March – it acquired the remaining 50% of its Swiss joint venture, allowing it to take full control of driving the business in this region.

And on the product front, it seems some “key growth avenues”, in particular in men’s and accessories.