Fashion News Hubb
Advertisement Banner
  • Home
  • News
  • Trends
  • Contact
No Result
View All Result
  • Home
  • News
  • Trends
  • Contact
No Result
View All Result
Fashion News Hubb
No Result
View All Result
Home News

Stella McCartney Reports £32.7 Million Loss in 2021

admin by admin
January 10, 2023
in News



Post-tax losses at the brand, known for the sustainable positioning and advocacy of its eponymous founder, deepened 7 percent year-on-year, as higher sales were offset by increased administrative expenses amid a wider restructuring, according to accounts filed to UK registrar Companies House.

The company’s turnover grew 14 percent to £32.5 million ($39.4 million) for the year ended 31 Dec. 2021.

These results mark the third year in a row that Stella McCartney has reported a loss of more than £30 million, following a costly split from then-parent company Kering in 2018 and the business challenges and prolonged uncertainty brought about by the pandemic.

The company, which received a minority investment from LVMH in 2019, has been undergoing a strategic turnaround since 2020. This has included bringing its e-commerce management in-house (via its Italian business) and licensing its childrenswear to Italian group Simonetta Spa. As in 2020, the company did not pay any dividends.

The company declined to comment on the financial results.

Learn more:

Can Stella McCartney Clean Up Fashion?

The ethical fashion pioneer and LVMH sustainability advisor is trying to change one of the world’s most polluting industries from the inside.



Source link

Previous Post

Halle Bailey Wears a Pink Bikini With Chain Straps

Next Post

6 Best Deodorants That Doesn’t Stain Clothes For Men 2023

Next Post

6 Best Deodorants That Doesn’t Stain Clothes For Men 2023

Recommended

Target A New Day Textured Metal Small Hoop Earrings Review

2 months ago

11 Best Leather Wallets From Handmade To Budget-Friendly In 2023

2 weeks ago

Fashion-(-White-)

© 2022 Fashion News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Trends
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Trends
  • Contact

© 2022 Fashion News Hubb All rights reserved.