Vivienne Westwood reports loss of US$3 million

Worldwide
Published:  02 October, 2019
Credit: Vivienne Westwood

The British fashion designer has reported a loss of £2.5 million (US$3 million) for the year ended December 31 2018, compared with a £1.9 million (US$2.32 million) profit in 2017.

Vivienne Westwood’s revenue in the period dropped 4.9% to £38.8 million (US$47.47 million), partly impacted by the closure of two stores. Nevertheless, wholesale sales increased 0.22% and net assets totalled £8.8 million (US$10.76 million), down from £13.6 million (US$16.63 million) in 2017. The label said it is currently seeking to streamline its portfolio of lines. “The company is also undergoing a strategic review to create a new operating structure”, said a statement. “The focus remains on improving the existing stores and repositioning the brand perception of the various Vivienne Westwood lines”.

Credit: Vivienne Westwood