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Smiggle go for London flagship

Two-storey store set to sail in May as retailers ramp up ambitious expansion plans


AUSSIE stationery retailers Smiggle are set to open a two-storey flagship store in London’s Oxford Street as they ramp up their ambitious expansion scheme.

Set to open in May, according to Retail Gazette, their accounts filed at Companies House show Smiggle’s British arm reported sales of £29million in 2016 and recorded £3.8m in pre-tax profit.
Marketing themselves as the “ultimate creators of colourful, fun, fashion-forward stationery”, Smiggle currently employ 1,000 people across their 125 UK stores with plans to expand to more than 2,000 when they hit 200 stores by 2019.
“We had a very strong half, and the first quarter was very strong with back-to-school, we will consider prudently our store openings,” MD John Cheston told Retail Gazette.
“But the target is still to be bringing in A$200m (£112m) in revenue by 2019 and to have around 200 stores, including opening a two-floor Oxford Street flagship in May – it could be less than 200 stores, it could be more, depending on the deal we get with landlords.”

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