One year on, Stella McCartney has published a promising 2022 performance. Now part of the Lvmh group, the pioneer of vegan luxury fashion has significantly improved its sales and reduced its loss.
Stella, the daughter of Paul McCartney, the famous singer of the Beatles, had a head start by launching into premium vegan fashion before anyone else. But she’s taking her time publishing her company’s results.
The company’s results for its financial year ending 2022 have just been published. And they’re going in the right direction.
Double-digit growth
The designer’s sales thus show double-digit growth (+23%) to £40.1 million (approx. $50.8 million) at current exchange rates, while its pre-tax loss has been divided by three, from £32.7 million ($41.6 million) in 2021 to £10 million ($12.7 million) in 2022. The company explains this reduction in losses by an improvement in gross margin linked to a 17% reduction in operating expenses. This improvement confirms, according to the company, its “trajectory towards break-even“.
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Read also > STELLA MCCARTNEY RECRUITS NEW CEO AT PRONOVIAS
Featured Photo: © Stella McCartney
