Sales up at Vivienne Westwood and Stella McCartney
Two of Britain's best known luxury designers, and ethical and sustainability activists, Dame Vivienne Westwood and Stella McCartney both achieved sales increases in their businesses last year.
According to accounts just filed at Companies House Vivienne Westwood's label achieved sales of £40.8m, up from £37.5m in the prior, however profits remained flat at £1.9m. The improvement in sales came in a "challenging" year during which other brands reported a drop in footfall due to economic uncertainty.
Stella McCartney's last set of accounts under the brand's ownership of luxury group Kering showed a modest increase in sales which hit £42.5m last year, up from £41.7m in the prior year. Profits, however, took a slight dip dropping to £9.1m from £9.5m.
McCartney bought back the 50% shareholding in her company that was held by Kering in March of this year, exercising an option to do so 17 years after the then Gucci Group invested in the brand. Her brand is now headquartered in London and to mark its new-found independence, McCartney opened a new flagship store on London's Bond Street this summer.