BusinessVivienne Westwood profits fall after "challenging" yearVivienne Westwood profit drop: Pre-tax profit decreased to £2.3 million last year from nearly £3 million in 2014 at the firm founded by Dame Vivienne WestwoodDave BenettJoanna Hodgson13 July 2016Having an army of A-list fans including the soon-to-be Prime Minister Theresa May, was not enough to stop profits falling at British fashion house Vivienne Westwood in 2015, new accounts have revealed.The firm founded by influential designer Dame Vivienne Westwood, helped set the style of the 1970s punk era and is behind a number of popular jackets which sell for over £1,000 each. It said that 2015 proved to be “a challenging year for the company” and added: “Margins are still under pressure due to the nature of wider retail conditions.”The tough luxury retail market contributed to pre-tax profit decreasing to £2.3 million from nearly £3 million in 2014.The policy of cost tightening will remain in place to help boost profits.Read MoreChristopher Bailey to be replaced as boss of BurberryYoox Net-A-Porter shrugs off Brexit and starts London hire spreeJimmy Choo steps up sales despite luxury woesBut the brand noted “some positive signs”, including a 5.6% sales increase to £33.8 million.Vivienne Westwood was also upbeat about future plans, including improving existing stores and establishing a better presence in China and the US.MORE ABOUTDame Vivienne Westwood
