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Stella McCartney Reports £32.7 Million Loss in 2021

Anna Winter and Edward Enninful at Stella McCartney's Spring Summer 2022 show during Paris Fashion Week. Victor VIRGILE/Gamma-Rapho via Getty Images
Stella McCartney's Spring Summer 2022 show during Paris Fashion Week. (Victor VIRGILE)

Post-tax losses at the brand, known for the sustainable positioning and advocacy of its eponymous founder, deepened 7 percent year-on-year, as higher sales were offset by increased administrative expenses amid a wider restructuring, according to accounts filed to UK registrar Companies House.

The company’s turnover grew 14 percent to £32.5 million ($39.4 million) for the year ended 31 Dec. 2021.

These results mark the third year in a row that Stella McCartney has reported a loss of more than £30 million, following a costly split from then-parent company Kering in 2018 and the business challenges and prolonged uncertainty brought about by the pandemic.

The company, which received a minority investment from LVMH in 2019, has been undergoing a strategic turnaround since 2020. This has included bringing its e-commerce management in-house (via its Italian business) and licensing its childrenswear to Italian group Simonetta Spa. As in 2020, the company did not pay any dividends.

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The company declined to comment on the financial results.

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