Monsoon is set to open more stores next year after a recovery in profitability and a return to high street shopping.

Based in the UK, the retailer now plans to open another 22 stores in the current financial year. Monsoon followed a strategy of product and brand renewal, digital transformation, retail portfolio restructuring, international restructuring, and central cost reduction and the strategy contributed ahead of expectations. The group is even confident of reaching the 200 store mark, if it wanted to.

Across the group, e-commerce sales make up 45 per cent of the total, up from around 20 per cent before the Covid pandemic hit. The proportion of e-commerce sales at Monsoon is much higher than at its sister brand Accessorize, where most sales are still made in stores. Over the past two years the company worked tirelessly to save the business, return it to a solid footing and secure its long-term future. The priority was to save the business, secure over 2,300 UK jobs and maintain its presence as a leader on the high street, which has been done.

Retail is doing great at the moment in the UK. The strength of the return to stores after a big pivot to e-commerce during the pandemic has surprised and delighted retailers.