'Influencers' help model agency to record profits
The model agency owned by former Miss Ireland Andrea Roche last year enjoyed its best-ever year as profits more than doubled.
New accounts filed by Ms Roche's AR Models Ltd with the Companies Office show that accumulated profits at the firm last year jumped by 75pc - going from €48,688 to €84,969.
The firm's cash pile during the year almost tripled, going from €67,934 to €150,848.
Ms Roche only established the Andrea Roche Model Agency in 2010 and last year enjoyed its best year to date after recording combined revenues of almost €1m in its first two full years.
Underlining the buoyant year enjoyed by the firm last year, the pay to directors last year more than doubled, going from €86,609 to €180,182 - made up of €110,182 in remuneration and €70,000 in fees.
The rapid success of the firm has been helped by having some of the biggest names in Irish modelling on the agency's books - former Miss World Rosanna Davison and former Miss Universe Ireland Roz Purcell.
Ms Roche established the firm six years ago after working for 13 years in the fashion industry.
A major factor behind the improved performance of the Tipperary woman's firm is that her agency now represents some of Ireland's most popular social influencers.
Buoyed by the success of models and bloggers Ms Purcell and Ms O'Connor in the publishing world the agency is now home to the country's leading fashion, beauty, nutrition, fitness and lifestyle bloggers, vloggers and social influencers.
In an interview earlier this year, Ms Roche said that she hopes that income from the "social influencers" will soon represent 20pc of revenues at the agency.
Ms Purcell earlier this year published her first cook book 'Natural Born Feeder', which started out as a food blog. Ms Pippa O'Connor has recently published her own book on fashion and beauty.
Both are represented by the agency and Ms Roche said: "The success of Roz and Pippa in securing publishing deals from their blogs has given me tremendous satisfaction and shows what can be achieved through social media so the potential here for my clients - and the firm - is enormous."
Ms Purcell said: "Being represented by Andrea's agency has helped to open up new avenues beyond modelling in my own career. Andrea takes a deep interest in her clients and she has been encouraging to me in pursuing new projects every step along the way."
"Social media has fundamentally altered the balance of power between consumers and brands, because it enables peer recommendations to play a much greater role in guiding purchasing decisions.
"According to a McKinsey Study, marketing-inspired word- of-mouth generates more than twice the sales of paid advertising, and these customers have a 37pc higher retention rate," she added.
"I am always trying to stay ahead of the curve in our business and I have watched the explosive growth of influencer marketing abroad with great interest. I am excited to launch Ireland's first influencer marketing network and to offer our clients an even greater range of services."
On signing up the "social influencers" Ms Roche said: "I am looking forward to helping brands create campaigns to effectively and efficiently communicate their message to their target audience using our network of social influencers."