The Fragrance Shop reports a “record-breaking year”
UK scent retailer The Fragrance Shop reported a “record-breaking year” for 2023, with like-for-like sales up by 6.1%, and business growth of 9.4% in the 12 months up to 1st April, 2024.
The Manchester-based retailer added 13 new stores to its portfolio in 2023, including its flagship store on London’s Oxford Street, and launched the UK’s first AI scent creation machine, Every Human.
The business said the brand Barbour grew by 55%, Versace was up by 48%, and Jean Paul Gaultier was up by 40%.
With a current total of 223 stores in the UK, the business plans to reach over 300 locations within the next three fiscal years, and also launch into international markets.
Chief Executive Sanjay Vadera MBE noted that The Fragrance Shop had “seen incredible growth” within its membership program MyTFS “which is now a thriving community of over one million members.”
He highlighted that the company had expanded its retail footprint across the country with 13 new stores and outlined plans for further expansion.
“We are already a CPD-accredited business for our education programs and are now focusing on achieving ISO9001, which is the standard for quality management systems,” he said. “This supports our ambition to grow into international markets.”