New accounts filed with Companies House show that the fashion Stella McCartney‘s pre-tax loss increased from £25m in 2023 to £33.5m in 2024 as sales dropped to £16m. The fashion house last achieved a pre-tax profit in 2017 when it recorded £9m in the black. Following that period, the business has accumulated losses exceeding £177m in total. The latest figures also show Stella McCartney’s turnover declined sharply from £21.9m to £16m in 2024. This represents the company’s weakest performance since it generated £14.6m in revenue back in 2009.
The brand’s income took a hit due to reduced profit sharing with its Italian arm, which dropped from £7.3m in 2023 to £3m. Royalty payments also declined from £9.6m to £7.4m, though retail store sales managed a modest increase from £4.9m to £5.3m. Operating costs held steady at £42m in 2024, having previously fallen from £54m in 2021 and £45m in 2022.
In a board-approved statement, Stella McCartney’s company declared: “As the fashion industry navigates its future, Stella McCartney remains committed to redefining luxury through impactful sustainable fashion and pioneering innovation. Despite the decreasing trend of operating expenses, the current operating loss increased from £23m to £29m in 2024, primarily due to the challenging market conditions and their impact on revenue.”
The news follows Stella McCartney’s acquisition of LVMH‘s 49% stake in her eponymous fashion label, a share the luxury behemoth had held for half a decade. McCartney will maintain her advisory role to LVMH head Bernard Arnault and his executive team, acting as their global ambassador on sustainability matters. LVMH initially snapped up the minority stake in 2019, a year after McCartney bought out Kering‘s 50% share in her brand.
Stella McCartney
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