// Dune hires KPMG as it seeks new investors in the business
// The retailer is looking for “exciting growth opportunities”
Dune has appointed KPMG to find new investors in the business as it eyes “exciting growth opportunities”.
The British retailer said it plans to open 25 new solus stores in the UK over the next three years while continuing to invest in its digital capability to further strengthen its omnichannel model.
Dune founder and chairman, Daniel Rubin, said: “Having spent 47 years in the footwear industry the time is right to realise the investment I have made in Dune.
“The business is strong with a first-class management team and exciting growth opportunities, both in the UK and internationally.”
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The appointment of KPMG comes after the group revealed strong financial results for the year ended January 2023 with turnover of £139m (£109m) and EBITDA profit of £10.1m (£6.7m).
The results reflected a recovery from the pandemic during which the company made significant changes to its business model.
In particular it dramatically reduced its department store concessions, restructured its store portfolio and successfully expanded its international and online operations.
Dune’s international operations, which already account for 35% of sales, continue to grow through digital, franchise, wholesale and drop ship channels, and is forecast to account for 50% of sales by 2026.
Rubin added: “I have always had a passion for the product, and I am fortunate that this passion is shared by the Dune team. Designing and producing beautiful shoes and accessories is a key ingredient to the brand’s success.”