Budda Brand: Amy Huberman boost as shoe firm profits rise 29-fold
AN Irish shoe firm is enjoying the 'Amy effect' with profits rising more than 29-fold to €465,000 last year.
This follows new accounts from Budda Brand, the firm behind the Amy Huberman shoe collections showing that its accumulated profits rose by €465,036 to €850,468.
The massive leap in profits at Budda Brand Industry takes in 10 months of sales of Ms Huberman's first Bourbon collection which was launched in April 2013.
Prior to the firm enjoying the full effects of the dividend from Ms Huberman, its increase in profits for the year totalled just €15,745 in 2013.
That year took in just a number of weeks of the first Huberman-inspired shoe that was launched in December 2012.
Ms Huberman debuted on the Irish retail scene with the design of her "American Beauty' leather ankle boot and in April 2013, the actor and author launched her first 15-style Bourbon collection.
Shoes in the collection are named after Huberman's favourite movies, including 'Mean Girls' and 'The Five Year Engagement'.
The collections now extend to over 40 different styles, ranging in price from €79.99 to €169.99.
The abridged accounts do not disclose the firm's revenues last year.
The actress has been collaborating with Castleblayney brothers Jim and Barry McArdle, who are behind Tommy Bowe's Lloyd & Pryce men's footwear range. The collaboration involves Amy choosing her favourite footwear looks which the McArdles have manufactured in Portugal and Brazil.
The brothers are the fourth generation of their family in the footwear business started by their great grand uncle Matt Connolly who had shoe shops around Ireland.
Separate figures lodged by the McArdles' sister firm, Shoe City, show that its accumulated profits almost doubled last year to €1.226m. The company was only established in 2011 and the figures show that its cash pile declined from €944,115 to €785,101.
The accounts show that the firm owed €1.14m to the directors in 2013 and this dropped to €783,725 last year. The €783,725 was owed to director, Mary McArdle at year end.