After posting a 63 percent increase in turnover, Moss Bros has announced it will expand into other digital marketplaces soon.
Moss Bros is a British men’s formalwear retailer that dates back to 1851. The company is primarily focused on hiring and selling men’s formalwear such as suits, tuxedos, ties, shirts, and accessories. Their products are popular amongst professionals, wedding parties and other special occasions.
Moss Bros operates more than 130 stores in the UK and Ireland. They also have an online store where customers can purchase or rent formalwear. The company’s leasing service, Moss Hire, is very well-known and maintains a high-rating for its quality and professionalism.
In addition to its core retail business, Moss Bros also provides personal tailoring and styling services to its customers. The company has a reputation for quality and modern styles, with a focus on offering a comfortable and confident shopping experience.
In its full-year results, the retailer reported an increase in revenues to £151.6 million, compared with £93.1 million in the same period last year. EBITDA boomed by 112 percent to £36 million, up from £17 million last year, with the company paying thanks to a “significant” rise in casual wear.
Post lockdown, our insight showed consumers were looking for more versatility when it came to their wardrobe. This represented a mixing of formalwear and casual stylish solutions,” the company said in a statement.
The omnichannel retailer also announced plans to open 10 new stores in the next 12 months. A company spokesman said last year, the company has seen consumer behaviours continue to change. The key to company’s success has been its ability to remain agile and meet the evolving wants and needs of its menswear audience.
Moss Bros to expand digital marketing
