Jun 30, 2015
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Profits fall at Vivienne Westwood, sales up

Jun 30, 2015

British fashion's grande dame, Vivienne Westwood, saw profit before tax decline to £2.99m in 2014, down from £3.23m in 2013.

Vivienne Westwood

However, turnover rose by 8.47% to £32m in the period and gross profit was up by 13.78%, according to the filing. The company said "2014 proved to be still a challenging year for the company but there were some positive signs."

There has been a 10.74% increase in wholesale sales and retail sales were up by 9.57% in the period. Vivienne Westwood is now reviewing the potential for new stores, especially in the North of England, and aims to establish a better presence in "relatively new markets such as China and USA." Indeed, the label has stores around the world but its heaviest presence is in Asia.

It is also looking to increase market penetration in existing territories like France, Italy and Japan.

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