Sales decline, losses widen at Anya Hindmarch

The British accessories label Anya Hindmarch, reported 10 percent decline in its turnover to 37.2 million pounds (48.4 million dollars) for the year to December 31, 2017, while pretax losses more than doubled to 28.2 million pounds (36.7 million dollars) against the previous year, reports WWD.

During the year under review, the company closed eight of its smaller stores and concessions in the UK and Japan, including ones at House of Fraser and Harvey Nichols. The company currently operates 33 points of sale, including flagships, concessions, and franchises, in prime locations across the UK, the US and Asia.

The report added that the namesake label founded by Hindmarch in 1987 decided to focus on consumer-facing projects and events instead of runway shows. Last month saw Hindmarch creating a three-day event called Chubby Clouds by Anya Hindmarch during London Fashion Week. While the events were a complete success, a small, on-site gift shop, the report added, generated sales akin to those of the company’s Bond Street store on the first day of the event.