Hawes & Curtis, the formal menswear brand owned by Dragon’s Den star Touker Suleyman, said it will focus more on casual clothing after seeing its profit dip last year, newly-filed documents have revealed. The retailer, which currently has 29 stores in the UK, made a pre-tax profit of just under £4.8m in 2023, down from £7.
9m in the year before. Its revenue remained flat year on year, growing only slightly from £43.7m in 2022 to £43.
8m in 2023. Hawes & Curtis, which was bought by Touker Suleyman in 2001, said although demand had “continued to be strong” for its products that soaring costs had eaten into its pre-tax profit. In May the company revealed that ex-footballer and pundit Gary Neville – who guest starred as an investor on Dragon’s Den in January – would become the new face of the menswear brand’s 2024 summer collection.
With working from home becoming more prevalent following the pandemic Hawes and Curtis said it would expand its product range to include more casual products. Owner Touker Suleyman told Drapers last year that the retailer was seeing its customers spending more on clothes beyond “the traditional suit, shirt and tie” which, historically speaking, had been the company’s bread and butter products. In a statement published to Companies House , the firm said: “The demand for the company’s product range continued to be strong in 2023 and as a result, the total like for like sales increased by 1.
5 per cent (2022: 74 per cent) and the.
