Dubarry, the shoemaker and fashion designer, plans to more than double its sales to €50m within five years by expanding in America and Europe. The company’s profits rose by 13% to €1.72m in 2010 on turnover of €20.5m.
Michael Walsh, a shareholder and the firm’s marketing director, said: “The sky is the limit, particularly in the US, where we are only in our fourth year.”
The firm already sells in 50 outlets in America, where sales were boosted by a photograph of Bruce Springsteen in its riding boots.
In the UK, it sells in 140 outlets, including Harrods in London, but achieves 40% of its sales directly on the horse show circuit. The Queen, a noted horse fan, received a pair of Dubarry boots just before her visit to Dublin.
“This year, we hope to grow by 15%, and we would expect to more than double our business within five years,” said Walsh.
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Sales of Dubarry in Ireland, however, fell by 10% to €4.5m last year. “The Irish market is very tough, and we have not seen any uplift in the retail market here,” said Walsh.
The firm sells in 150 outlets in Ireland, down from 200 at the peak of the boom. “In the medium to long term we want to bring what we have developed internationally [its broader fashion range] back into Ireland.”
Dubarry is based in Ballinasloe, Co Galway, and is owned by four Irish businessmen. It was founded in 1937, and is named after Madame Jeanne du Barry, a French courtesan in the 1700s.