McQueen makes loss despite record sales
DIRECTORS at fashion brand Alexander McQueen said sales for the label reached ‘unprecedented levels’ last year for both retail and wholesale.
They said the record sales confirmed ‘the strong development of the Alexander McQueen brand as well as the successful in-house relaunch of the McQ label’.
However, in spite of soaring sales, the company made an overall pre-tax loss due to increased expenses and difficult trading conditions.
Accounts just filed for the year to December 31, 2015, showed that turnover grew slightly from £9.6million to £10.5million but losses increased from £2.4million to £4million.
Founded in 1992 by Lee Alexander McQueen, the brand grew quickly and made international headlines when the company under its creative director Sarah Burton made Kate Middleton’s wedding dress.
In recent years it has accelerated its new store openings and it aims to continue to expand next year.