VIP customers help lift profits at Kennedy firm
An upsurge in VIP customers to the flagship London store operated by fashion designer, Louise Kennedy contributed to profits increasing by €219,000 at her firm last year.
Ms Kennedy, pictured, counts Kylie, Beyonce and Meryl Streep as customers and new accounts just filed by her Signum Ltd show that the firm's accumulated profits last year increased by €219,317 - going from €1.62m to €1.84m.
The group operates high-end retail outlets in Dublin and London. The firm's cash pile last year increased by more than €300,000, going from €844,131 to €1.14m.
The profit last year takes account of non-cash depreciation costs of €116,574.
A spokesman for the business said yesterday that "the results for 2016 show growth in turnover and profitability in line with expectations".
On the areas of growth, the spokesman said: "The company's increase in profits is a combination of increased sales and good cost management. We are pleased to see a large number of international clientele visiting our London store.
"The company has invested in trunk shows in the United States which continues to grow as a source of new customers."
"The launch of a VIP suite in the London store for private shopping consultations has been very successful."
Numbers employed increased to 35.