Aberdeen mainstream menswear indie Signature is set to hit £2m in turnover when its financial year ends later this month. The retailer, which opened its first store in the 1980s, forecast that an 11% rise in turnover across its two stores should mean turnover rises from £1.8m for the year to the end of July 2010 to £2m in the financial year to the end of July 2011.
Owner Patrick Ritchie attributed the success to maintaining a fresh brand mix: “We continue to supply brands that our customers desire and aspire to and, of course, provide the best customer service possible so clients walk away happy. I believe these are the main reasons for our continued success.”
The original Signature store stocks brands including Armani Collezioni, Ralph Lauren and Paul & Shark over 1,800 sq ft, while its second store, Signature 2, spans 1,000 sq ft and stocks a more casual offer with brands such as Boss Orange, Lyle & Scott and Ted Baker. To keep the brand mix fresh Ritchie is adding Armani Jeans for autumn 11.
The retailer is bucking the trend seen elsewhere in Scotland where, like much of the UK, there has been a fall in overall retail sales over recent months. According to the SRC/KPMG Retail Sales Monitor, like-for-like sales in Scotland fell 1.8% year on year in June.
Ritchie said: “It’s finally some positive news for Union Street [home to both stores] after seeing a well-established and much-loved store, [music shop] Bruce Millers, close down. We need to champion Union Street and promote trade within the city again.
“For an independent store like Signature, at the mercy of bigger chains and shopping centre’s in the east end of the city, I feel very lucky that we have maintained our loyal customer base and added to it.”