Kathmandu CEO Xavier Simonet said the company was preparing to reach into the North American market.Credit:Justin McManus
The 165-store chain on Tuesday revealed its Australian sales grew 11.6 per cent in the second half of the 2018 financial year on a same-store basis (which removes the impact of opening or closing stores) - well ahead of most retailers in a market where clothing and apparel sales are growing at only 2.7 per cent annually.
"If you live in Melbourne you would have noticed there were more black Kathmandu down jackets on the streets,so that’s really been a key factor,"Kathmandu chief financial officer Reuben Casey told Fairfax Media.
Hiking chic is having something of a moment in global fashion right now - prompting even the likes of Prada to release a collection of outdoor-inspired apparel.
This meant consumers were more open to balancing functionality alongside fashionability in their day to day clothing,said Kathmandu chief executive Xavier Simonet,with the company's design team hitting a sweet spot between those two priorities this winter.
"We’ve found a balance there and customers are excited to buy our products,"he said.
Kathmandu's profit has jumped 32 per cent.Credit:Justin McManus
The dual Australia and New Zealand listed company on Tuesday handed down a net profit after tax of $NZ50.5 million ($46 million) for the 2018 financial year,up from $38 million a year earlier and in line with guidance.