Ace & Tate posted its first operating profit for the first half of the year. However, the Dutch eyewear brand did not disclose any specific figures. The company attributes the turnaround to a renewed growth and brand strategy.
Focus on expertise
Ace & Tate’s revenue increased by more than 14% in the first six months of the year, while sales of optical products grew by over 16%. The retailer announced this in a press release. However, further details about revenue or profit are not available.
The company attributes the progress to a new growth and brand strategy, including changes in the management team: last year, Lex van de Vliet succeeded founder Mark de Lange as CEO. Founded in 2013, the eyewear chain wants to focus on personal eye care and optical expertise. The retailer also wants to expand the number of stores in Europe. Two years ago, the company decided to make significant cost cuts in order to get out of the red. The store network now comprises more than 80 stores in nine countries. The chain will soon be opening new branches in Tilburg and Cork, Ireland.
