Samantha Cameron's Cefinn makes maiden loss but sales are rising
Samantha Cameron’s fashion label start-up Cefinn lost £561,795 in its first year, but the company said that its maiden set of results was better than expected.
The accounts were filed through Cefinn’s parent, Samantha Cameron Studio Ltd, at Companies House and showed very little detail as the business’s turnover is well below the level required to file more detailed information.
They give little clue as to how the brand might eventually fare with companies in start-up phases frequently being lossmaking for a number of years.
But the company reportedly also said that sales have doubled year-on-year in the latest quarter and the brand clearly has a good chance of making it through. It has heavyweight backers behind it and benefits from plenty of publicity due to Cameron’s high profile and impeccable fashion connections.
The wife of the former UK Prime Minister was previously creative director of luxury label Smythson and that company’s chairman, Mark Esiri, is one of her backers, along with Lord Feldman of Elstree.
The Cefinn label, which sells contemporary clothing at premium prices (dresses retail for around £270 to £340) has its own webstore and also sells on Net-A-Porter, Matchesfashion and through Selfridges and Fenwick.
It also enjoys regular celebrity endorsement and America’s First Lady Melania Trump has been photographed in one of its dresses.
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