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Stella McCartney posts surge in UK profit

Stella McCartney’s UK arm posted a 34.4% rise in profits last year with strong sales seen across all categories.

For the year to December 31 the luxury fashion house business saw profits rise to £2.8m with sales soaring by 20.4% to £17.6m. Sales across all categories contributed to the revenue rise with handbags a particularly strong performer.

President and chief executive Frederick Lukoff said: “Our main business is ready-to-wear but handbags are doing well, and the Falabella [its chain decorated tote] in particular is doing well.”

Lukoff added that the brand has not seen any negative impact from the gloomy economy. He said: “At this point, I can’t say we’ve seen any effect — maybe it’s too early to tell. And, like everyone else, we cannot not be concerned about the future. But it’s been pretty smooth so far.”

The brand plans to open further stores this year including a 3,000 sq ft second store in London on Fulham Road and a 2,000 sq ft store in Florida.

The figures filed at Companies House account for the UK arm of the business which oversees trademarks, licenses and the London flagship store. The figures do not incorporate wholesale turnover or sales from seven of the brands stores.

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