America Today and MS Mode, the two fashion chains of retail group Cool Investments, had a strong 2021: nice sales growth led to profits. For 2022, the retailer remains cautious: after all, the year started difficult.
Major uncertainties
Despite the impact of lockdowns in the Netherlands, both fashion chains were able to boost sales significantly in 2021, Cool Investments reported in its financial report. MS Mode saw sales rise from EUR 96.4 to 109.5 million. In the physical shops, turnover rose from 71.4 to 78.1 million euros, online it went from 24.8 to 31.4 million euros. At America Today, sales went from 55.8 to 58.4 million euros. In the physical shops, sales rose from 32.5 to 36.2 million euros, but online sales fell from 23.2 to 22.2 million euros. That growth performance also led to positive ebitda. In 2020, the group still posted a loss.
This year, both retail chains experienced a difficult start. MS Mode did recover from March, but America Today remains behind budget: inflation has a bigger impact on this chain’s target market, it seems. Cool Investments still expects growth in its physical shops – and slightly slower also online – but points to major uncertainties due to the war in Ukraine, the tight labour market, rising commodity prices and supply problems.
More omnichannel
CEO Dennis Mok wants to define the positioning of both brands even more clearly, stating “America Today and MS Mode will become even more omnichannel retailers, more data-driven and more flexible”.
America Today sells American-inspired fashion from brands such as Eastpak, Levi Strauss and Wrangler and currently has more than 70 stores and online shops in the Netherlands, Belgium and Germany. MS Mode, the specialist in plus-size fashion, has more than 220 shops in the Netherlands, Belgium, France and Spain.
