Links of London shows a year of exceptional growth.
Folli Follie, which owns the jewellery and watch brand of the same name and Links of London, delivered what it called an “outstanding group performance” in its full-year results for 2009.
The group said that business for the year had exceeded its expectations, with Links of London delivering a particularly strong performance.
Group revenues at Folli Follie rose 6 percent year on year to €992.5 million (£879.3 million) and profit after taxes jumped 16.1 percent to €115.2 million (£102.1 million). Sales at Folli Follie’s standalone stores were up 14 percent.
Sales in Europe, which accounts for 17 percent of total sales, rose 1.6 percent to €62 million (£55 million). The strongest growth market for Folli Follie was Asia, which accounts for 49 percent of sales, where sales jumped 23 percent on last year. This was followed by travel retail up 13 percent and then Japan, which showed an increase of 6 percent.
Folli Follie vice-president George Koutsolioutsos said: "We look back at an outstanding group performance for the full year 2009, where we once again exceeded our expectations taking into account the serious economic environment in which we operated.
“All companies of the group faced with great vigilance and reactivity operating difficulties and we are prepared for the challenges coming ahead. Links of London in particular delivered another year of exceptional growth and was appointed official licensee of London 2012.”
In 2009, jewellery accounted for 59 percent of Folli Follie’s business, watches accounted for 34 percent and accessories represented 7 percent of sales.