Stella’s salary! Fashion his designer Stella McCartney said his eponymous brand suffered his £32 million loss, paying himself £2 million.
- Designer loses money for 4th straight year
- Stella McCartney Ltd lost £32.7m in 2021
- This has cost over £100 million over four years
Stella McCartney has paid herself £2.3m despite losing a lot of money with her namesake fashion brand, financial documents reveal.
A favorite of celebrities such as former U.S. First Lady Melania Trump, singer Beyonce and human rights attorney Amal Clooney, the designer has been losing money for four straight years. , according to the latest accounts, her company, Stella McCartney Ltd, will lose £32.7m in 2021, taking her total to over £100m over four years.
But that didn’t stop McCartney from pulling in millions of pounds in salary, having received more than £10 million in that period. It details how you want to improve your “brand desirability”.
Strategies to attract younger shoppers include marketing the brand as conscientious fashion and leveraging the designer’s environment and history of animal rights campaigns.
Despite being an exclusive customer, the designer’s firm Stella McCartney Ltd lost £32.7m in 2021, taking the total to over £100m over four years, according to the latest accounts.
McCartney, 51, is attending the 2021 Cop26 climate change summit, complaining that the fashion world is “getting away with murder” and calling on the industry to reduce its waste and greenhouse gas emissions.
As part of her commitment to the environment, she recently launched the world’s first new Frayme bag made from vegan leather. The large tote version retails for £1,350, while the metallic mini bag retails for just under £1,200.
Her brand has also collaborated with Japanese pop artist Yoshitomo Nara to keep her brand current.
PHOTO: Bella Hadid walks the runway at Stella McCartney’s Spring/Summer 2023 womenswear show as part of Paris Fashion Week (file photo)
The luxury fashion house was hit by the pandemic, but McCartney’s apparent financial troubles date back to at least 2018. It predates the impact of lockdowns and the disruption of global his supply his chains that have devastated the industry.
The losses in the latest corporate earnings are staggering, even in the high fashion sector, where making money is often an afterthought.
They surpassed the company’s annual turnover of £32.5 million. In the report, the directors warned that the outlook for the global economy was “highly uncertain”.
In November, the Mail on Sunday revealed that the brand, which is partly owned by French fashion giant LVMH, has raised nearly £100m in new shares. McCartney, the daughter of former Beatle Sir Paul and the late photographer and animal rights activist Linda, owns 51% of the label through a company called Annin Star.
We have reached out to Stella McCartney Ltd for comment.
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