The Fragrance Shop appoints Citypress amid UK expansion

Citypress has been appointed to provide corporate, trade and financial support to The Fragrance Shop, the UK independent specialist perfume retailer.

The Fragrance Shop: plans to open a further 100 stores during the next five years
The Fragrance Shop: plans to open a further 100 stores during the next five years
The team, led by director Martin Currie, will focus on promoting the Manchester-based business' store expansion programme, customer service innovations, product expertise and retail execution.

In June, The Fragrance Shop confirmed plans to open a further 100 stores over the next five years, creating 500 jobs.

Currie, who heads the consultancy's corporate and financial practice, said: ‘There's a strong media appetite for growth companies, particularly innovative, privately owned mid-market firms that have the opportunity to become the big business brands of the next 10 years.

‘This is a particular strength and focus of our corporate and financial team and The Fragrance Shop is a perfect example.’

The news follows a rise in sales, which increased 23% to £70.4m in the year to 31 March 2012, driven by strong like-for-like figures plus new store openings, which have taken its portfolio to 135.

The business said new celebrity-branded ranges – such as Justin Bieber’s Someday and JLS's Kiss – were responsible for strong sales among 16- to 24-year-olds.

Sanjay Vadera, CEO of The Fragrance Shop, said: ‘Citypress has a proven track record of promoting the success of privately owned companies like The Fragrance Shop, who are outperforming their sector and their larger quoted rivals.’

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