A luxury cashmere retailer whose products featured in the most recent James Bond Film ‘Spectre’ has improved turnover and pre-tax profits in its latest figures, following investment in its high street stores.

N.Peal is based in Beamsley, near Bolton Abbey, and can trace its history back to 1936. Its cashmere jumpers have previously been worn by celebrities such as Marilyn Monroe, Elizabeth Taylor, Cary Grant and Ava Gardner.

The company was also tasked with producing a series of unique cashmere jumpers for the James Bond character in the 2012 film ‘Skyfall’ as well as the 2015 film ‘Spectre’.

The latest accounts for N Peal (Retail) show the company saw turnover of £12.8m for the year ending 31 December 2017, up from £10.2m in 2016.

Pre-tax profits for the company also grew to £1.67m, from £1.36 for the previous year.
During the year, the company opened a new store in London's Covent Garden and refurbished its outlets in Bicester and Ingolstadt Villages.

It also invested in its first US store, on New York's Madison Avenue, which began trading in February 2018.

A spokesperson for N.Peal said: "The company is focused on developing our online digital presence supported by the opening of key flagship stores. The significant addition in 2018 was the opening of a flagship store on Madison Avenue, New York. The reaction has been extremely positive and it further supports our dedicated US website. We are now looking at further locations both in New York (Soho) and in Europe - specifically Paris and Munich.

"As a business our vision is to become the global destination for sustainable luxury cashmere, recognised and trusted for our integrity and quality. We have started various initiatives to help us achieve sustainability - ensuring that our cashmere is sourced only from herders in Mongolia, who farm cashmere in a sustainable manner and avoid damage to the vast steppes. Unfettered grazing can cause desertification and is a significant issue for the local environment.

"We are also working with natural plant dyes so that we can deliver a sustainable and environmentally responsible product during 2019. Plastic is another significant product within the fashion industry and we shall seek ways to eliminate the use of plastic across the business - though this will take time. But our intention is clear."