Monica Vinader, the luxury jewellery brand, has increased sales by 33 per cent for the year ending July 2016 and appointed Boden chief executive Julian Granville as its first chairman and Erica Allen as commercial director.
The business, run by Monica Vinader and her sister Gabriela, has seen continuous year on year growth since its launch in 2008. Accounts soon to be filed at Companies House show turnover has risen from £19.8m to £26.4m. International sales have increased by 83 per cent to 9.5m (2015 £5.2m) and now represent 36 per cent of the business (up from 27 per cent in 2015).
Monica Vinader’s highly distinctive jewellery, which includes its iconic friendship bracelet, is sold in 12 countries and the company employs more than 200 staff worldwide. The business continues to increase its global footprint with further openings in the US, Singapore and South Korea in the coming months. The Duchess of Cambridge, Kate Winslet and Alicia Vikander are among the brand’s many high profile fans.
In February 2016, Piper, the leading specialist investor in consumer brands, led a £20m investment in Monica Vinader alongside US consumer specialist Winona Capital to help the brand accelerate growth in the US and continue enhancing its e-commerce channel.
Incoming chairman Julian Granville has been chief executive of Boden since 1997, having initially joined the clothing retailer as finance director. Since then he has helped turn Boden into a household name and launched the company’s hugely successful US business, which last year turned over $170m. Prior to Boden, he worked at Coopers & Lybrand (now PwC).
Granville is not the only new senior member of the Monica Vinader team. Erica Allen has been appointed as new commercial director. Allen (née Chang) was previously director of international at Farfetch and US product manager at Net-A-Porter. Educated in the US, she began her career as a consultant at Deloitte.
Monica Vinader, the company’s CEO, said: ‘We are pleased to have delivered another strong financial performance and see the brand thrive in new territories, further increasing its global presence. We’re delighted to be joined by senior talent of the calibre and experience of Julian and Erica. Their appointment demonstrates the scale of our ambitions and their insights and expertise will be invaluable as we drive Monica Vinader’s growth across the US and beyond.’
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