Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Stella McCartney swings to a loss

Luxury fashion brand Stella McCartney has plunged into the red with a 219% drop in operating profits for the year to 31 December 2018 – equating to an operating loss of £10.8m.

The previous year the business had made an operating profit of £9.1m – but profits were wiped out as costs soared. Many of these resulted from a corporate reorganisation which saw McCartney buy out luxury goods conglomerate Kering’s stake in the business.

Despite the operating loss, sales were broadly flat, up 0.2% year on year to £42.6m. In the year since the results, the business entered into a partnership with luxury group LVMH. McCartney will retain creative control and a majority of shares, but LVMH will assist in the development of the business and its strategy.

The brand has become known for its pioneering sustainability work in recent years, and designer McCartney is a leading figure in the campaign to create a more eco-friendly, ethical fashion system.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.