Most Recent Articles In Designer and Luxury
Latest Designer and Luxury Articles
- Retailers Laud Shift to Reality on Paris Runways
- Brands Eye Fashion Bloggers to Form Genuine Partnerships
- Lapo Elkann Presents Customization Service at New Milan HQ
More Articles By
LONDON — Last year was a shining one for Stella McCartney, who dressed Team GB’s athletes at the London 2012 Olympics, scooped up two British Fashion Awards and received an Order of the British Empire from Queen Elizabeth II.
This story first appeared in the September 27, 2013 issue of WWD. Subscribe Today.
The year was a money-spinner, too. Stella McCartney Ltd. notched a 19 percent rise in profits to 3.4 million pounds, or $5.4 million, in the fiscal year ended Dec. 31, according to documents filed at Companies House, the official registrar of companies based in the U.K.
Sales in the 12 months rose 22.8 percent to 25.8 million pounds, or $41 million, with the ready-to-wear, accessories and children’s collections among the top performers. A new store in South Kensington, a shop-in-shop at Harrods and the launch of the fragrance L.I.L.Y. also boosted growth, according to the company.
All figures have been calculated at average exchange rates for 2012.
Stella McCartney Ltd. is the U.K. legal entity within the worldwide business, which is consolidated into the accounts of its parent company Kering. The U.K. division oversees the trademarks, licenses and the brand’s two London stores, on Bruton Street and Fulham Road, and the shop-in-shop at Harrods.
The figures reported at Companies House do not take into account wholesale sales or turnover from the brand’s directly operated stores outside the U.K.
“It was an exciting year for London — and we did very well, too,” said the brand’s president and chief executive officer Frederick Lukoff in an interview. He said the kids’ collection outstripped expectations, and that eveningwear has also been growing as a category.
“We launched it last year at an event during London Fashion Week, and have now made it a permanent part of the collection,” he said.
Lukoff declined to make any forward-looking statements, but it’s clear that business continues to grow. According to Kering’s second-quarter results released in July, the “other brands” division, which includes Stella McCartney and Alexander McQueen, grew 15.7 percent in the three-month period.
Lukoff said the focus in 2013 has been on Asia. The brand is set to open its second Hong Kong store in the next few weeks, and has opened units in Beijing, Shanghai, Tokyo and Taipei over the past few months. Stores in Istanbul and Moscow are set for later this year. The average size is 2,160 square feet.