LONDON — Following in the fast-growing footsteps of fellow British brands Burberry and Mulberry, Anya Hindmarch more than doubled 2010 profits on the back of a 12.3 percent rise in sales.
The company, which is majority owned by Anya Hindmarch, its founder and chief creative officer, will file its 2010 accounts with Companies House, the official register of U.K. businesses, later this week.
The company will report a spike in profits to 550,000 pounds, or $853,000, from 246,000 pounds, or $381,000, in the year ended Dec. 31.
Revenues rose to 20 million pounds, or $31 million, from 17.8 million pounds, or $28 million. Worldwide retail sales, which include the label’s franchises in Japan and the Far East, exceeded 35 million pounds, or $54 million, a 19 percent increase on the previous year. All figures have been converted at average exchange rates for 2010.
In an interview, chief executive officer James McArthur — who joined in May — said momentum at the company was good.
“The environment can be troubling, and we are being cautious, but the fundamentals of this business are sound,” he said, adding that wholesale orders for spring are up 40 percent.
McArthur added that retail sales in the U.K. and the U.S. would be up in the double digits this year.
Although he is still putting together his strategic plan, McArthur has already begun to make changes, beefing up the design, merchandising, retail, and digital teams and planning a push into new markets, particularly China.
The label has 13 directly operated stores in the U.K., Ireland and the U.S., and franchise partners in the Far East and Middle East. It also operates an e-commerce site, and has just launched a bespoke service online.
Asked whether he was grooming the company for a sale, McArthur said he was not.
“We have a minority private equity investor now, and there is a possibility that we may go and look for a small amount of new financing next year. But we’re talking about a small amount of money. We’re a profitable company, and have been for the past 24 years,” he said.
Kelso Place Asset Management has had a minority stake in the business since 2006.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast