Vivienne Westwood reports 2.5 million pound loss

British designer label Vivienne Westwood has reported a pre-tax loss of 2.5 million pounds for the year to 31 December 2018, compared to a 1.9 million pound profit the year before.

Turnover in the period dropped 4.9 percent to 38.8 million pounds.

However, the company remained optimistic, saying in a statement: “The brand continues to remain attractive to its wider customer base and sales continue to be consistent. The focus remains on improving the existing stores and repositioning the brand perception of the various Vivienne Westwood lines. In addition, we are reviewing the lines currently available with the objective of streamlining the portfolio.”

Moving forward, the company said it has “major ambitions” to grow a bigger presence in relatively new markers such as China and the USA as well as increasing market share in Asia and Europe - particularly in France, Italy and Germany.

It also that the group’s positioning with a strong presence in Europe will enable it to minimise the negative impact of a potential no-deal Brexit.

Photo: Vivienne Westwood Selfridges pop-up, courtesy of Selfridges