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High-end fashion and streetwear brand END is targeting further international growth on the back of a year of “progress and strategic change” following its acquisition.
END launched in Newcastle in 2005 and has since opened shops in London, Edinburgh and Manchester where it offers pieces from more than 500 designers and brands.
In December 2021 the business also signed an agreement to lease its first international store in Milan.
Results filed under Ashworth and Parker Limited revealed that in the year ended 31 March 2022, the retailer turnover over £218.9m, which increased from £199.1m in the prior period.
However, pre-tax profit was down from £45.3m to £38m and margins were also impacted by “significant investments” including the acquisition of its freehold Manchester site in May 2021.
END also invested in a new flagship Newcastle store during the period.
On the 1 April 2022, a group led by Lobster Topco Limited acquired 100 per cent of the shareholding in the company from Index Ventures and its co-founders and co-chief executive’s Christiaan Ashworth and John Parker.
Moving forward, the business said that its focus “remains digital first” and added: “We have seen continuous growth online, most notably in our key UK and US markets.
“Further international expansion remains central to our strategy, and although Brexit has created significant challenges, we have developed and are continuing to progress our offering to EU customers to enhance our competitive position.”
During the period, the businesses’ team grew from 646 to 764, and the company said that, alongside its near-term growth initiatives, “we have invested significantly into our people, systems and platform to prepare END for future growth”.
Post year-end, Ashworth and Parker revealed that they would be transitioning into new roles, with Parker Gundersen taking the helm as chief executive.
Gundersen is the former president of retail operations at LVMH subsidiary DFS Group, and previously worked as chief executive of ZALORA.
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