The luxury fashion house an announced profits of £2.7M.
Vivienne Westwood is one of the last independent global fashion houses in the world that produces luxury clothes and accessories. The brand has reported a turnover increased of 19 per cent for 2019, retail sales increased by 10 per cent whilst wholesale sales rose by 59 per cent.
In the current challenging climate, the brand comments: “The Company experience the profound impact of the Covid-19 pandemic. The full effect on the business is still unknown but the Company believes its cash reserves and careful cash flow management will mitigate any major repercussions.” They also announced that they managed to retain all 270 members of its staff in 2020 despite the COVID-19 peak by utilising the government scheme assisting with staff payments.
The company summarises: “The brand continues to remain attractive to its wide customer base and sales continue to be consistent.”
