Oroton on the up

 

OrotonThe company behind luxury accessory label, Oroton, has grown its full year profit by 16 per cent.

OrotonGroup achieved a net profit of $8.3 million in 2013-14 compared to $7.1 million in the previous financial year.

The fashion retailer’s revenue increased 26 per cent to $124.9 million, with like for like sales growth lifting eight per cent compared to a four per cent drop in the previous year.

Australian actress, Rose Byrne, will continue to be the celebrity face of the handbag and accessory brand, the group says.

“We will continue to invest in strong marketing initiatives led by the Rose Byrne campaign and the new store concept rollout, which is already showing positive sales results,” the company said in a statement on Thursday.

Mark Newman, CEO, says the 2014 financial year marked the post Ralph Lauren era after ties were severed with the luxury clothing label in June 30, 2013.

Newman says the Gap brand, which includes clothing lines for babies, children, women, and men, was integrated into the business successfully from November 2013 and a joint venture with American clothing label, Brooks Brothers, was launched in February.

OrotonGroup’s 84 stores include 71 Oroton and three GAP stores.

The group has announced a fully franked final dividend of eight cents per share, taking the full year fully franked dividend to 16 cents per share compared to a full year dividend of 50 cents per share the previous year, which still included the Ralph Lauren business.

AAP

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