Rixo, a luxury womenswear brand, has had a highly successful year in terms of sales and profits, according to recently filed accounts at Companies House. The company experienced substantial growth in the year leading up to June 2022. Rixo is known for its vintage-inspired and contemporary pieces and operates through multiple channels, including its own stores, wholesale to independent retailers and department stores, and e-commerce.
The company’s sales saw a tremendous increase from £10.3 million in the previous 12 months to £17.4 million in the year in question. This remarkable jump of nearly 70% is particularly noteworthy considering that turnover had only fallen by 3.3% in 2021. Alongside the increase in sales, adjusted EBITDA also rose from £3.7 million to £4.8 million. The total income for the year reached £3.6 million compared to the previous period’s £2.8 million.
Rixo attributes its growth to the success of all its channels, with a particular emphasis on its own stores and wholesale operations. These segments greatly benefited from the reopening after the Covid-19 pandemic. The company also witnessed growth in its e-commerce division, thanks to its investment in digital marketing strategies.
Despite being relatively small in size, with only 69 employees spread across various departments, Rixo has managed to establish strong brand awareness. This achievement can be largely attributed to its success in public relations and cost-efficient marketing efforts. Additionally, the brand’s popularity among celebrities has played a significant role in driving sales in its core UK market.
Following the end of the reporting period, Rixo continued to grow by launching a new store in Carnaby Street, bringing the total number of their own stores to three. The company has also made further investments in its e-commerce and wholesale operations, clearly demonstrating its commitment to expanding its presence in the market.
To learn more about Rixo and their collections, you can visit their official website here. Additionally, for those interested in purchasing Rixo’s pieces, they can explore their offerings on their online store here.
