British cosmetics company Lush considers options outside of UK

British cosmetics company Lush considers options outside of UK

Because of the increased concerns about brexit's fallout, British cosmetics company Lush is looking to expand beyond the UK's borders. It fears it may have to pay increased import taxes and that it cannot find the right employees easily any more.

Eighty people relocated to Germany

Lush revealed this information when it published its financial results for 2016 earlier this week: "To date Lush has flourished from the freedom of movement of people and goods, and now we face uncertainty in both of these areas. Having opened our new Germany manufacturing facility during the year we will be reviewing other options for growth outside of the UK", Lush states.

 

About 20 % of Lush's employees do not have a British passport and they often no longer feel welcome after the country's residents voted to leave the European Union recently. The company said it would not fire anyone, but would gladly welcome employees that were willing to relocate to Germany to work in its facilities there. More than eighty people have decided to take Lush up on its offer and moved to Germany, where the company's European activities have been since the fall of 2016.

 

Over the past fiscal year, Lush's turnover reached 723.3 million pounds (830 million euro), up 26 % compared to the year before, while its EBITDA grew 76 % to 43.2 million pounds (50 million euro).

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Scottish store "fires" Pepper robot

23/01/2018

An Edinburgh-based store of British chain Margiotta halted its Pepper robot experiment after merely a week, because its customers apparently found it too confusing.

Unilever will cut jobs at Belgian retail sales team

22/01/2018

Unilever Belgium will restructure its team of store representatives and cut eleven jobs. The company confirmed that to RetailDetail.

Decent profit for The Sting in fiscal year 2016

22/01/2018

Fashion chain The Sting generated a profit once more in 2016, after it had to deal with a more than 5 million euro loss in the year before. Affiliate brand Costes also generated a profit in its fiscal year 2016.

Ceconomy issues profit alert for first quarter

22/01/2018

Media Markt and Saturn’s parent company, Ceconomy, issued an alert warning it would probably have weaker first quarter results.

Lower turnover and new CEO for Geox

19/01/2018

Italian shoe brand Geox’ turnover dropped slightly in the past fiscal year. It also replaced former CEO Gregorio Borgo with Matteo Mascazzini, who came from Italian fashion brand Gucci.

Slower growth for Primark

18/01/2018

Irish fashion chain Primark has seen its first quarter turnover grow 7 % at level exchange rates and 9 % taking the fluctuations into account. Analysts however had expected faster growth.

Back to top