Losses continue at Temperley London despite revenue growth
today Jan 7, 2019
Luxury designer brand Temperley London saw its annual losses widen in 2017 despite reporting a sales growth and receiving £1.78m boost from investors.
The fashion label, favoured by the Duchess of Cambridge, said losses for the year ended 31 December 2017 increased to £1.53m from £1.44m a year earlier.
Alice Temperley's fashion brand has been trying to turn the business around since losses slumped to £2.8m in 2014. Her dresses, which sell for around £2,000, have been embraced by celebrities and the royal family for their feminine silhouettes and delicate details, but the brand has admitted there is ‘material uncertainty’ about its future.
Apart from the losses, 2017 was a year of growth for the company, its latest accounts showed. Revenue increased 4% £11.3m, and gross margins improved by 6 percentage points to 51%. Overseas markets accounted for 53% of sales, particularly the US, Canada, UAE, China and Hong Kong.
Additionally, the brand has been focusing on defining a very clear range plan and pricing structure across all categories, boosting its wholesale business and reducing excess stock levels to generate cash.
In September 2018, Sally Hughes joined the company as new chief executive to replace Patricia Sancho, who has left after five years at the helm.
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