AllSaints profit jumps, sees growth opportunities despite challenging economic climate

Global contemporary fashion brand AllSaints Group announced audited financial results for the year ended 1 February 2025, achieving profitability despite a deliberate decrease in promotional activity.

Total Group revenue fell by 4 percent to 441.3 million pounds, following a strategy to reduce markdowns and improve sales quality. This focused approach successfully drove a rise in profitability: Pre-operating exceptional EBITDA increased by 1 percent to a record £69.5 million (2024: £68.9m). Both profit before tax and profit after tax jumped 55 percent to 28.2 million pounds and 93 percent to 18.9 million pounds, respectively. This performance was supported by an improved gross profit margin of 65.2 percent, achieved through shorter retail markdown periods, effective inventory management, and earlier seasonal launches.

Brand performance and strategic investment

While overall AllSaints revenues were down 5 percent to 372.4 million pounds, the John Varvatos brand, acquired in 2021, saw its revenues rise by 4 percent to 68.9 million pounds, delivering its best-ever profit performance since the acquisition.

The Group executed several operational highlights during the year, including launching new product lines such as smAIISaints children's wear, a new fragrance, and men’s tailoring. Investment in infrastructure included opening a new third-party-operated European distribution centre in the Netherlands, which has made continental Europe the Group’s fastest-growing market.

Store investment continued with the first AllSaints new concept store in Manchester, and new locations opened across both brands, including Belmont Park Village in New York and Metzingen in Germany.

Furthermore, the Group's 55 million pounds revolving credit facility with Wells Fargo Capital Finance was extended to September 2030, securing financing for future growth.

Leadership and outlook

In a post-period move reflecting a commitment to creativity, renowned London designer Aaron Esh was appointed AllSaints’ chief creative officer, effective November 3, 2025. The leadership team was further strengthened by the promotion of Alex Didymiotis to chief people officer and Alfie Meekings to chief transformation and technology officer.

Despite operating against a "challenging global economic backdrop," CEO Peter Wood credited the teams for delivering the record profit and expressed confidence in the "plenty of exciting growth opportunities for both AllSaints and John Varvatos".

Post-period expansion has already continued with new store openings in Shenzhen, China, Atlanta in the US, and a new John Varvatos flagship in SoHo, New York, coinciding with its 25th anniversary.