Dame Vivienne Westwood’s fashion business has been hit by “disappointing” sales and tumbling profits, it has emerged.
The designer, famous for kick-starting London’s punk scene with Sex Pistols manager Malcolm McLaren in the 1970s, saw pre-tax profits slide 36% to £3.2 million in 2013, according to accounts posted at Companies House. Overall sales dipped 2% to £29.5 million last year.
Alongside her status as the grande-dame of British design, Westwood is also a prominent environmental campaigner who recently launched a unisex clothing line featuring anti-fracking illustrations and slogans.
The haute-couture brand, including four clothing labels, leather goods, jewellery and a range of accessories and perfumes, remains “very attractive to its wide customer base” but the results blamed a “tough economic climate” for holding back sales.
They added: “2013 has been a challenging year for the company. While the company has seen a small increase in wholesale sales, retail sales have been disappointing with a drop of 2.6% and the focus now is on the retail side of the business.
“Over the last year margins have been under pressure due to the nature of wider retail conditions.”
Westwood’s company has 10 outlets in the UK.
