QUIZ, the Glasgow-based fashion chain, has announced a 35 per cent rise in revenue in its first trading update since floating on the stock market in July.

The company also revealed plans to launch into the United States in the second half as it looks to shift the majority of its sales into the online and international markets.

Sales at the company reached £56.1 million for the six months to September 30 as gross margins remained in line with expectations.

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Chief commercial officer Sheraz Ramzan said there would not be a dividend when full interim results are announced in November, but this was something that the board was looking at for next year.

Quiz targets itself at the fast-fashion market, using its own designers to create occasion and “dressy casualwear” for women. It has focused on developing a model where high street and online sales are given equal footing.

In the half year, international sales were up 12 per cent to £10m, or 18 per cent of the total.

After opening three stores in Madrid last month, along with a Spanish website, Mr Ramzan said Quiz would be launching into the US in the next six months, with an initial focus on the east coast.

“We’ll be launching our own Quiz online operation in the US and we’ll also be looking for offline opportunities, it will be an exciting area of expansion for us,” he said.

He added that a market the size of the US required a step by step approach. “Once the US website is up and running we’ll be employing various digital marketing and social media techniques to grow some traction.

“When you tie-up with influencers and celebrities who have awareness across the country, you can get good traction quickly.”

He said the company had seen an increase in orders from the US, in spite of no marketing underway in the country yet.

The Madrid openings marked the company’s first store openings outside of the UK and Republic of Ireland – where the company is planning a further opening before the end of the calendar year.

The group has also expanded its international franchise operations from 65 units to 76 units.

“Last year international and online combined was 30 to 35 per cent of the business, so we still envisage over the next two to three years that online and international will become a good majority of the business,” said Mr Ramzan.

Online sales accelerated 204 per cent in the period, reaching £13.8m, up from £4.5m in the first half of 2016.

Sales in standalone stores were up 15 per cent to £32.3m. Just one new store was opened in the period, but the group has plans to open a further five stores in time for the Christmas trading period. The group also opened four new concessions with its existing UK partners.