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Wempe’s London showroom sales rise 11% in 2017

WEMPE London

German-owned Wempe posted its best financial results since 2013 last year with sales and profits rising sharply.

Turnover of £18 million from the business’s single store on London’s Bond Street was up 11% over 2016.

Wempe does not yet sell online, but has announced it will unveil a new ecommerce platform in Germany in 2019 and the UK in 2020.

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Operating profit for the London store was up 52% to £1.6 million despite administrative expenses increasing by 4% due to a rent rise on Bond Street.

 

 

 

The company’s team remained stable at 17 people, generating sales of over £1 million per head.

The 2017 results were ahead of this year’s major store refurbishment. The boutique was closed for several weeks over the summer, and reopened in September.

 

Tags : financial resultswempe
Rob Corder

The author Rob Corder

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