Friday 9 December 2016

'Kate factor' as Orla Kiely profits soar to €400,000

Gordon Deegan

Published 17/10/2015 | 02:30

Designer Orla Kiely
Designer Orla Kiely
A model displays a bag by Irish designer Orla Kiely

Orla Kiely's fashion empire continued to prosper last year with pre-tax profits up by 73pc to £354,253 (€408,408).

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The group recorded the rise in spite of revenues falling from £8.24m to £8m in the 12 months to the end of March 31. The directors blame the drop on the business moving away from lower margin discounting and concentrating on growing the group's retail and internet business.

They state: "This resulted in an increase in gross profit percentage to 45.5pc compared to 43.6pc last year, meaning that gross profit was actually slightly in excess of last year's performance, despite the reduction in turnover."

The Irish designer - best known for her quirky, retro stem prints - runs the firm with her husband, Dermott Rowan. In recent years, the business received a boost from the Duchess of Cambridge, who displayed her enthusiasm for the brand by wearing Kiely's outfits.

Other celebrity fans include 'Girls' creator, the author and actor Lena Dunham, and actors Kirsten Dunst and Zooey Deschanel. Sixty-three per cent of the group's revenues were recorded in the UK. The company employ 62 with staff costs reducing to £1.97m. Directors' remuneration reduced from £324,306 to £323,923.

Irish Independent

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