Edinburgh Woollen Mill to add 100 new stores as part of its expansion initiative

YarnsandFibers News Bureau 2015-11-27 12:00:00 – Langholm

Edinburgh Woollen Mill (EWM) a Scottish fashion retailer that also owns the budget fashion chain Peacocks which already has more than 1,000 stores, is one of the largest retail business in Britain as part of its major expansion initiative plans to open 100 new stores over the next two year of brands such as The Edinburgh Woollen Mill and Peacocks, which will also lead to the creation of 800 jobs in the current fiscal year.

Out of the 1,000, 71 stores were added this year. The expansion reiterates the group's focus tabled in 2013, to create more than 1,100 stores over 18 months.

EWM bought Peacocks when the latter fell into administration in 2012. Since its acquisition, EWM has injected £150m into Peacocks. Peacocks was established as a Victorian penny bazaar in 1884 run by Albert Peacock. The fashion brand operates 477 stores in the UK and Ireland and has presence in over eight international categories.

Edinburgh Woollen Mill commercial director Steve Simpson said that it was already a category leader in over-forties fashion, and further broadening its demographic will only help it to continue its growth, both here in the UK and overseas.

Peacocks, meanwhile, is benefiting from a truly omni-channel approach comprising online, mobile and high street, as well as out-of-town stores and concessions.

EWM was established as a yarn dyeing company in Dumfriesshire and was originally called Langholm Dyeing and Finishing Company.

The total sales at the group increased by 2% to £562.6m ($849.1m, €800.1m) in the year until February 2015, profits during the same period rose by 28% to £91.2m. A rise in online sales saw 15 percent increase in the company's revenues.

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