- Prachi Singh |
Vivienne Westwood Limited, for the year to December 31, 2017, said that the turnover increased by 8.67 percent to 40.7 million pounds (52 million dollars) and gross profit rose by 28.01 percent with gross profit margin improving to 53.3 percent from 46 percent last year. Pre-tax profit for the year remained flat at 1.9 million pounds (2.4 million dollars).
In the accounts filed with the Companies House UK, the company said, 2017 still proved to be challenging for wholesale with sales decreasing by 6.14 percent, while retail sales marginally improved by 3.16 percent. The company added that “margins are still under pressure” and it has been “focussing on alleviating the pressure by reviewing pricing to improve gross profit margins and this policy will be applied going forward on an ongoing basis.”
Along with improving existing stores and repositioning brand perception, Vivienne Westwood aims to focus on establishing presence in relatively new markets such as China and USA while increasing market share in Europe and Asia.