Monsoon plans 22 new stores after recovery

12th December 2022 | Phoebe Dobke

Monsoon plans to open more stores in the new year after their surprising recovery.

During its time in administration the retailer’s presence dropped from 230 UK stores to 154 along with its sister brand Accessorize. The company has now confirmed plans to open 22 more stores.

Parent company, Adena Brands, bought Monsoon Accessorize out of administration in 2020 and instigated a new strategy which resulted in £196 million in sales in 2021.

CEO of Adena, Nick Stowe, explained that product renewal, digital transformation and retail portfolio restructuring have been played a large role in the company’s success.

“This past year we’ve made continued strong progress on our turnaround plan, moving from the earlier restructuring phase to a focus on growth. We’ve continued Monsoon’s digital transformation with a new website design, better digital marketing, and the development of “Monsoon Bazaar”, our marketplace for like-minded, sustainable third-party brands. We’ve also opened more of our boutique stores and have more planned in the year ahead.

“The business now has a great foundation, we’ve performed well and grown in the first quarter of our new fiscal year, and we remain positive about the year ahead.”

Annual accounts for parent company Adena Brands, revealed:

  • Group sales of £258 million, up 43% in the year to 31 August 2022
  • UK retail like-for-like sales grew 105%
  • International business growth of 24% year-on-year, representing 19% of group sales
  • EBITDA of £24.4 million, representing an increase of 132%
  • Ecommerce sales make up 45% of total revenue, up from 20% before the pandemic


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