Glasgow-based fashion firm Quiz said in a trading update it enjoyed a 35% increase in group revenue to £56.1 million in the six month period to September 30 compared to the same period last year.
Quiz said its online revenue increased 204% to £13.8 million in the first half of 2017 “reflecting the benefit of opening the new 180,000 sq. ft. distribution centre in the summer 2016, increased and effective marketing spend, particularly through digital channels, and the broadening of the product ranges available to customers.”
Quiz’s international sales for the first half of 2017 increased 12% to £10 million.
“The group continues to deliver on its international expansion towards the end of the period and opened three standalone stores in Madrid in Spain, Quiz’s first standalone stores outside the UK and the Republic of Ireland,” said Quiz.
“This has complemented the recent launch of Quiz’s own Spanish language website.
“It is anticipated that one additional store will be opened in the Republic of Ireland prior to Christmas 2017.
“The group has also expanded its international franchise operations from 65 units to 76 units in H1 2017, including new franchise units in Dubai, UAE and Morocco, further demonstrating the growth opportunities for the Quiz brand globally.”
Quiz CEO Tarak Ramzan said: “We are very pleased with the Quiz brand’s strong growth across target markets and channels with online in particular experiencing continued outstanding momentum.
“Our IPO in July 2017 was a hugely important milestone for the company as we continue to build the Quiz brand as a global fast-fashion destination for customers who want the latest looks at outstanding value.
“The Quiz brand has a distinct USP, a strong customer connection and fast-fashion in its DNA.
“Our customer base is growing strongly and we are confident of delivering further growth.”