Vivienne Westwood plunges into the red with 2.8 million loss in 2018
The company’s sales fell by 4.9%m to 43.3 million euros, after two stores closing. Wholesales revenue remained stable and increased 0,2% on 2017.
Vivienne Westwood paints its results red. The company of the British fashion designer has closed its fiscal year 2018 with a reported 2.5 million euro loss, compared to 2.1 million euros profit registered last year.
On the other hand, the revenue fell by 4.9%, to 43.4 million euros, after the closure of two stores. Wholesale sales of the group remained stable and increased 0,2% on 2017. The net assets of the company also decreased, from 15.2 million euros in 2017 to 9.8 million euros in 2018.
Vivienne Westwood is planning to reinforce its structure in USA and China
The company, that is in the middle of a restructuring process, said in a statement that the company’s focus continues to be to improve its stores network and repositioning the brand and its different lines.
Vivienne Westwood plans to strengthen its presence in the United States and China and increase its stores network in France, Italy and Germany. The British designer became famous in the seventies, when she popularized punk aesthetics when designing for Malcolm McLaren, representative of the Sex Pistols.
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