Leica Camera sets the pace in the UK after stampede for M10
High-end camera company Leica saw UK sales outstrip overall group growth last year thanks to rising demand for its newly launched M10 digital camera.
The 104-year-old German company, popular with street photographers and artists, saw turnover rise by 21% here to £14.5 million for the year ending March 2017.
That beat Leica’s overall global sales growth of 6% last year, which bucked a downward spiral for the camera industry overall.
The manufacturing company was formed in Wetzlar, Germany in 1914. It is co-owned by private equity firm Blackstone and Dr Andreas Kaufmann, a former teacher who bought the near-bankrupt company in 2004.
UK demand for the £5,858 M10 — which had back orders of nearly five months following its launch last year — and Leica’s cult appeal pushed up sales.
Leica’s flagship store off Berkeley Square in Mayfair often hosts exhibitions and talks by academics which helps create a buzz for fans of the brand.
The Mayfair store is one of 90 around the world.
Leica plans up to 30 more in China alone. Vintages Leicas are sought-after by collectors.
