Since Christos Angelides took over as CEO of Reiss, the renowned fashion company has seen a remarkable increase in sales. Under his leadership, Reiss has implemented a successful strategy that involves bringing in new designers and evaluating store leases to enhance profitability. This approach has proven to be effective, as Reiss reported a notable 6.7% rise in like-for-like sales over the six months leading up to August.
Consumers have positively responded to the brand’s latest collections, particularly online, signaling approval of the changes implemented by Angelides. This marks a significant turnaround for Reiss, which had previously suffered a pre-tax loss of £9.9m due to unprofitable international store expansions. Despite setbacks from opening nearly 20 new stores in countries like the US, Canada, and Australia, Reiss, now owned by private equity firm Warburg Pincus, has successfully rebounded and established itself as a success story in the UK retail industry.
While some competitors like French Connection struggle in the current market, Reiss’s focus on innovative designs and streamlined operations has set it apart as a strong player in the fashion sector. With Angelides leading the way, Reiss is poised to continue its growth trajectory and strengthen its position as a frontrunner in luxury fashion.
For more information on Reiss and its latest collections, visit their official website here. To stay updated on the latest news and developments in the fashion industry, check out industry-leading publication Vogue’s website here.
