Lorna Jane’s profit doubles thanks to strong demand for athletic clothing

outfits from Lorna Jane
Lorna Jane’s profit nearly doubled in the last fiscal year. (Source: Lorna Jane/Facebook)

Activewear brand Lorna Jane’s profit nearly doubled in the last fiscal year thanks to a strong boom in post-pandemic demand.

Lorna Jane’s profit for the 12 months ended June 30 rose to $21.3 million from $11.6 million in the prior year, the Australian Financial Review reported, citing accounts filed by the company.

Revenues for the period was $199.6 million, up from $198.3 million a year earlier. 

The brand was founded by Lorna Jane Clarkson in Brisbane and opened its first store in 1989.

Clarkson sold a 40 per cent stake to private equity firm Champ Ventures in 2010 but brought it back in 2020, together with her husband Bill.

The brand currently has 98 stores in Australia. It peaked at 144 locations in Australia and 35 in the US but has closed its operations in the latter.

The company had to shut down many stores during Covid-19 and later witnessed a long boom in demand for athletic clothing after the pandemic.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.