Follow us

Menu
PARTNER WITH USFREE NEWSLETTER
VISIT TheIndustry.beauty

Stella McCartney sees revenues rise despite digital sales drop

Sophie Smith
09 January 2023

Stella McCartney's financial results for the year ending 31 December 2021 reveal a 14% increase in revenue to £32.4 million.

In the UK, revenue totalled £5.3 million, compared to £3.8 million in 2020. Revenue outside of the UK reached £27.1 million, a rise from £24.5 million in 2020. The rise in revenue was led by "profit split income from group undertakings" of £12.2 million, compared to £2.1 million the year before.

Store sales increased 26% to £4.9 million, with the number of directly operated stores remaining unchanged at the end of 2021 compared to 2020.

However, digital sales through the brand's website dropped 78% to £2.3 million, largely due to a change in the business's operating model, with e-commerce revenue now being recognised as part of Stella McCartney Italia SRL.

The company also delivered a loss before tax of £32.7 million, compared to a £31.4 million loss in 2020.

Throughout the year, Stella McCartney remained "rooted in its strong sustainability values". The company participated in COP 26, as well as developed a new fungi-based 'Mylo' material.

Last year, Stella McCartney and LVMH's beauty division unveiled STELLA by Stella McCartney, a new line offering an alternative to luxury skincare, which they branded "Alter-Care". In keeping with the British fashion designer's approach to her clothing and accessories collection, the conscious skincare line is vegan and cruelty-free.

Free NewsletterVISIT TheIndustry.beauty
cross