Cefinn still loss-making, new King's Road pop-up opens
Cefinn, the premium label launched by Samantha Cameron, has opened a new pop-up store and has also filed its latest accounts with the still-young company remaining loss-making and its losses widening in the year to October 31 2018.
The business, whose accounts are filed through its parent firm Samantha Cameron Studio Ltd, isn’t required to give a huge amount of detail in those accounts as its turnover is below the threshold for a more full disclosure, and we still don’t know exactly what’s happening on the sales front. But the losses in the year grew to £0.913 million from ££0.561 million a year earlier.
That’s far from unexpected for a company at such an early stage and is actually indicative of a business that’s growing on the sales front. It’s clear that there’s a lot more going on there than there was in the previous year. Its cash reserve, for instance, ballooned to £2.33 million from £60,000 at the earlier stage.
Such a business as this would be likely to stay loss-making for a number of years and losses will mount as the firm invests for growth. This spring, for instance, it opened its first shop space with a pop-up on London’s King’s Road and on Tuesday the company opened its second pop-up store, again on the King’s Road.
With the company back for a second visit, it’s clear that the first store made an impact, which makes sense as the major shopping street is a very suitable hunting ground for the brand. The label’s target demographic chimes well with the shopper found in this particular part of Chelsea and its premium-but-affordable pricing and style profile that can take wearers from the school run to the boardroom (without being too ‘corporate’) has won it plenty of high-profile fans.
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