News
Ortak reveal expansion plans
14/08/2008 10:43:00
ORTAK has announced a 9.8% increase in retail sales from January 2008 to July 2008 totalling £3.15 million.
The company is also on target for increased profits, expected to be up from 2007's pre-tax figures of £224,000 for the financial year.
The company has also revealed expansion plans for the remainder of 2008 with the opening of an additional two stores; Ortak at Glasgow's Silverburn will open in September 2008 followed in October 2008 by a flagship store at The Elements in Livingston.
The new stores will take Ortak's current retail portfolio to 14 and employee numbers to 90 in the retail sector of the business.
Under what Ortak retail director, Yvonne Carr, called, 'one of the most challenging retail environments in Ortak's 41 year history', she cited the company's unique model of high street retail sales couple with inhouse design and manufacturing as the main reason for strong growth.
She said: "We are always one step ahead of the competition when it comes to current trends as we design and create our products from our manufacturing base in Orkney - which allows us to respond efficiently to what our customers are looking for. Our outlook is extremely buoyant and the two new stores will further broaden our customer reach - The Elements store will be our first in mid-central Scotland and Silverburn will extend our already strong presence in Glasgow."
Speaking on the jewellery business as a whole, she added: "The jewellery industry in general is fairing well in comparison to other retail sectors and we're confident that this will continue. Largely a gift item, jewellery is weathering the current storm due to the importance of special occasions and we've noticed a strong increase in self-purchasing as despite the current climate, customers continue to enjoy personal indulgences."
Ms Carr also attributes a strong marketing strategy to Ortak's recent success, as the company prepares to launch a vigorous new marketing campaign in time for the crucial Christmas period, which is being fronted by Amanda Lamb, former face of Scottish Widows and glamorous presenter of A Place in the Sun.