JW Anderson swings back to £21.4m profit despite dip in turnover

Jonathan Anderson's JW Anderson returned to strong profitability in 2024 after a challenging prior year, despite turnover and continued operating losses.

According to accounts filed at Companies House for the year ending 31 December 2024, turnover fell 5% year-on-year to £28.4 million, down from £29.9 million in 2023. The company attributed the drop primarily to the timing of wholesale shipments for the Spring/Summer 2025 season.

Cost of sales fell to £10.7 million, resulting in gross profit of £17.7 million, compared with £18.5 million the year before. However, higher operating costs weighed on underlying performance, with administrative expenses rising to £20 million from £18.5 million, contributing to an operating loss of £5.5 million. This marked a sharp reversal from the £2.3 million operating loss recorded in 2023.

Despite this, the group reported profit before tax of £23.8 million, swinging from a pre-tax loss of £3.6 million the previous year. The turnaround was driven by £31.45 million in 'other income', primarily linked to the successful restructuring of an intra-group loan.

After taxation of £2.4 million, profit for the year came in at £21.4 million, compared with a loss of £3.5 million in 2023.

The brand continued to strengthen its direct-to-consumer footprint. Retail revenues from JW Anderson’s London and Milan flagship stores increased 15% year-on-year, with the Milan store contributing a full year of trading in 2024. E-commerce revenue through the brand’s own website and selected third-party marketplaces was broadly flat. Wholesale remains the core of the business.

Design collaborations increased by 20% year-on-year, underlining the brand’s continued cultural relevance.

The company said it remains focused on increasing global brand awareness, expanding market share and improving its overall net operating position. Creative Director Jonathan Anderson’s globally recognised design vision was cited as a key driver of international demand.

The results come as Jonathan Anderson enters a defining new chapter in his career, having been appointed sole Creative Director of Christian Dior earlier in June 2025.

In one of the most significant creative shake-ups in recent fashion history, Dior handed Anderson responsibility for all women’s, men’s and haute couture collections, uniting the house under a single creative vision for the first time since its founder, Christian Dior.