It's Louise of Arabia as Middle Eastern buyers boost Kennedy's fashion empire
Published 15/12/2015 | 02:30
WEALTHY Middle Eastern buyers are the main driver of the sales expansion at designer Louise Kennedy's business.
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.