The British fashion retailer The Dune Group has been looking for potential shareholders. International consultancy KPMG has been tasked with finding new investors for the company, the parent company of the Dune London brand announced on Monday.
“Having spent 47 years in the footwear industry, it is time to realize the investment I have made in Dune,” said Daniel Rubin, Dune Group’s founder and chairman, in a statement. “The company is strong with a first class management team and exciting growth opportunities, both in the UK and internationally.”
According to its own statements, the shoe and accessories specialist was able to increase its sales in the 2022/23 financial year, which ended in January, by almost 28 percent to 139 million pounds sterling (157 million euros). Earnings before interest, taxes, depreciation and amortization (EBITDA) even grew by 51 percent to 10.1 million pounds sterling (11.4 million euros). Thanks to drastic reforms, Dune has achieved an “impressive recovery” after the stress caused by the Covid 19 pandemic, the fashion company said.
The Dune Group also confirmed that it intends to continue its expansion course. Over the next three years, 25 new stores are to be opened in Great Britain and investments in digital capacities will continue. At the same time, the brand is focusing on growth abroad through the expansion of online, franchise and wholesale business. The international share of total sales, which was recently 35 percent, is expected to grow to 50 percent by 2026, the company said.