Wednesday 18 January 2017

It's Louise of Arabia as Middle Eastern buyers boost Kennedy's fashion empire

Gordon Deegan

Published 15/12/2015 | 02:30

Models in some of Louise Kennedy’s autumn/winter collection
Models in some of Louise Kennedy’s autumn/winter collection

WEALTHY Middle Eastern buyers are the main driver of the sales expansion at designer Louise Kennedy's business.

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Ms Kennedy counts Kylie, Beyonce and Meryl Streep as customers.

New accounts just filed by her company, Signum Ltd, show that accumulated profits last year rose from €1.156m to €1.3m.

The profit jump in 2014 was lower than in 2013 and 2012 as the firm incurred capital costs that included investment in a revamp of its flagship retail store in London and the design studio on Dublin's Merrion Square.

According to a company spokesman: "The main expansion has come from the Mid-Eastern clientele who shop at the London store. This segment is accounting for a significant proportion of the sales generated in London and followed up online."

The company employs 30 - an increase of 15pc on last year.

He said: "The results for 2014 show steady growth in profits, with both the Irish and UK markets showing growth.

"There was a significant investment in refurbishing the London store and the design studio in Dublin. This investment has been pivotal in reaching out to new customers."

On 2015, the spokesman said: "Management accounts show a sustained growth in profits and revenues. This is due to strong footfall in London and recent collections being well received by customers."

The firm's cash pile fell last year from €936,687 to €419,686.

Irish Independent

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