Yahoo Finance Touker Suleyman's Hawes & Curtis cheers sales jump with smart clothes in demand
A surge in demand for smartwear as more workers return to the office has boosted sales and profits at Dragons’ Den star Touker Suleyman’s Jermyn Street shirtmakers Hawes & Curtis.
The 110-year-old formalwear firm, which has been owned by the celebrity entrepreneur and his brother since 2001, has counted the Duke of Windsor, Lord Mountbatten, Cary Grant, Clark Gable, Frank Sinatra and Fred Astaire among its clients.
Turnover reached £43.8 million last year, up from £24.3 million in the previous 12 months, according to accounts just filed at Companies House. Pre-tax profit was up to £7.9 million from £1.4 million.
Suleyman told the Evening Standard the company, which has 14 UK outlets, had benefited from a focus on flagship rather than smaller stores.
Six more shops will open by June 2024 including in Cheapside before Christmas.
The results point to a boost from demand for wedding outfits as well as “return to work” clothes. Smart casual wear such as chinos and blazers was also popular, Suleyman said.
Accounts from the company, which is this month celebrating its 110th year anniversary, said: "Although the effect of the global pandemic of Coronavirus has reduced significantly, the trading conditions expect to be difficult due to the cost of living factors."
But the report added: "The demand for the company's products range continues at an increased level for both channels' stores and online."
