Cath Kidston has reported that it is confident that its overseas sales will overtake the UK within the next year.
According to chief executive Kenny Wilson, the British retailer that currently generates 40% of its sales overseas, is approximately a year away from making more money outside the UK.
Cath Kidston recently reached the milestone of opening its 100th overseas store in Seoul, South Korea and plans to open 35 to 40 new stores per year, with its focus mainly being aimed at Asia.
Kenny Wilson said shoppers in Asia are drawn to the “Britishness” of Cath Kidston, as well as its “femininity, cheerfulness, colourful nature and great new products”.
The famously known kitsch prints company will also start to look at new markets including the Philippines and Dubai, where it has plans to open its first store in the autumn and could possibly have more stores in the Middle East by the end of the year.
Wilson said China, where it operates four stores, represents a great opportunity and said within 10 years Cath Kidston is likely to have “quite a lot” of stores in the country.
The expansion plans came as Cath Kidston reported group sales increased 10% to £116m in the year to March 30, when overseas revenues jumped 37% to £46m.
