Profits rise for Louise Kennedy in US growth
GROWING US business at the retail firm operated by one of Ireland's best-known designers, Louise Kennedy, contributed to profits increasing by €297,276 last year.
Ms Kennedy counts singers Kylie and Beyonce as well as actress Meryl Streep among her customers.
New accounts just filed by Ms Kennedy's Signum Ltd show that accumulated profits increased from €1.84m to €2.13m last year.
The group operates high end retail outlets in Dublin and London and continues to dress many members of British and Middle Eastern royal families and high-profile business executives around the world.
The firm's cash pile during last year increased from €1.14m to €1.24m. A spokesman for the business said: "The results for 2017 show growth in turnover and profitability in line with expectations. This is reflected in the recently filed accounts by an increase in cash reserves."
The company's entire production takes place in Italy and Portugal and the spokesman said that "the increase in profits is a combination of increased sales and good cost management".
On the main areas of growth in 2017, the spokesman said: "The company continues to invest in the United States as a source of new customers with continued growth. The company continues to explore and expand the Louise Kennedy range and enhance the luxury clothing experience."
On the firm's 2018 performance, he said: "Recent interim results show steady profitability despite challenges posed by a weakened pound."
The business, which employs 42, has plans in place to increase sales by 30pc in the next three years.
The firm has traded through three recessions and has consistently grown business year on year. During her 35 years in business, Ms Kennedy's profile was heightened when President Mary Robinson commissioned her to design her inauguration outfit in 1990.