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Vivienne Westwood blames 'challenging year' for slump in profits

By Prachi Singh

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Report

British fashion house Vivienne Westwood reported a decline in its pre-tax profit from three million pounds (3.9 million dollars) in 2014 to 2.3 million pounds (three million dollars) for the fiscal year 2015. However, on a positive note, the company said sales improved 5.6 percent to 33.8 million pounds (44.6 million dollars).

The label founded by the designer Vivienne Westwood is loved by A-list personalities including the new Prime Minister Theresa May. The company blamed the fall in profits to a challenging year and said that the margins continue to be under pressure due wider retail conditions.

Despite disappointing results, Vivienne Westwood would implement its plans that include improving its existing stores and creating a strong foothold in markets such as China and the US.

picture:facebook/viviennewestwoodofficial

Vivienne Westwood