Stella McCartney: Losses widen as sales hit 15-year low Retail Losses widened at Stella McCartney’s fashion brand in the year the designer bought LVMH out of its stake as its sales fell to their lowest level since 2009, it has been revealed. New accounts filed with Companies House show that the firm’s pre-tax loss went from £25m in 2023 to £33.5m in 2024. Stella McCartney [...]
Profit triples at Cartier owner as UK sales rise Retail Profit has almost tripled at the UK arm of the luxury goods giant behind the likes of Cartier, Net-a-Porter and Montblanc, new results have revealed. Richemont UK has posted a pre-tax profit of £30m for the 12 months to 31 March, 2025, according to its latest accounts which have been filed with Companies House. The [...]
Vivienne Westwood’s heirs bank £35m after record profit Retail The widower and heirs of the late Dame Vivienne Westwood have banked £35m after profit at the late fashion designer’s company surged to a new record. Vivienne Westwood passed away at the end of 2022 at the age of 81 leaving her husband Andreas Kronthaler and two children in control of her business interests. Kronthaler, [...]
‘I have no confidence in Rachel Reeves to turn things around’ November 24, 2025 The chief executive of a luxury hotel group in London has said he has “no confidence” in Chancellor Rachel Reeves ahead of her Budget later this week. Gavin Taylor, who leads Clermont Hotel Group, also branded Reeves as “not particularly business friendly” and that the Chancellor needs to lower the tax burden on companies in [...]
High street jewellery giants struggle to sparkle November 5, 2025 Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month. But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the [...]
Versace: UK sales slashed again as profit almost wiped out October 14, 2025 Sales at the UK arm of fashion house Versace have been slashed by a fifth for a second consecutive year as the downturn in luxury spending continues. The division has reported a turnover of £15.2m for the 12 months to 31 March, 2025, new accounts filed with Companies House have revealed. The latest total is [...]
Why don’t London’s luxury hotels make any money? October 13, 2025 London is home to some of the most iconic and well-known luxury hotels in the world. The Savoy, the Ritz, The Dorchester and Claridge’s, to name just a few, are renowned the world over and have played host to the ultra wealth, celebrities and royalty. Also appearing in a string of popular films, London’s luxury [...]
Porsche: UK revenue in £300m reverse as car sales slashed October 8, 2025 Revenue at the UK division of Porsche was cut by more than £300m in 2024 as it sold 4,000 fewer luxury cars. New accounts filed with Companies House have revealed the UK arm’s revenue fell from £1.92bn to £1.62bn during its latest financial year. Over the same period, its pre-tax profit also declined from £44.6m [...]
Claridge’s: Five-star London hotel falls into the red October 6, 2025 Claridge’s, the iconic five-star London hotel, has slipped into the red despite its revenue rising during its latest financial year, it has been revealed, amid major redevelopment work. For 2024, the hotel has posted a pre-tax loss of £5.4m, down from the £7.2m pre-tax profit it achieved in 2023. However, new accounts filed with Companies [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]