Business Irish

Sunday 4 December 2016

Profits rise as Middle Eastern clients snap up Kennedy's styles

Gordon Deegan

Published 20/10/2016 | 02:30

Louise Kennedy Spring Summer 2016 collection launch.
Louise Kennedy Spring Summer 2016 collection launch.

The fashion firm operated by designer Louise Kennedy enjoyed a €310,000 increase in profits rise last year.

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The boost was due in part to affluent Middle Eastern and US clients purchasing Kennedy's latest designs from her London store.

Ms Kennedy counts singers Kylie Minogue and Beyonce as customers and new accounts just filed by Ms Kennedy's Signum Ltd show that accumulated profits last year increased from €1.3m to €1.6m.

The group operates high end retail outlets in Dublin and London.

The firm's cash pile more than doubled, rising from €417,110 to €846,182.

A spokesman for Signum said: "The results for 2015 show growth in turnover and profitability in line with expectations, with the UK market outperforming the Irish market.

He said: "The most significant growth has come from the mid-Eastern and US clientele visiting the London store.

"We are seeing repeat and growing volumes from these customer lists. There has also been a noticeable improvement in sales from the Louise Kennedy scent which launched during 2014.

He added: "Recent interim results show steady profitability despite challenges posed by a weakening pound, increasing rents in London and the cost of essential maintenance to the company's headquarters at [Dublin's] Merrion Square."

Numbers employed by the firm total 30.

On expanding, the spokesman said: "The company is continuing to invest in the personal shopping experience in Dublin and London."

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