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Stella McCartney’s fashion house slashed its losses last year as it pushed ahead with a turnaround.
The label, run by the daughter of Beatles legend Paul McCartney, said losses shrank to £10million in 2022 – compared with £32.7million in 2021.
Sales increased 23 per cent to £40million, up from £32.5million the previous year, as the firm continued a turnaround scheme it started in 2020.
A revival plan was launched after it clocked up dismal losses topping £70million over the years 2018 to 2020.
Launched in 2001, the brand has attracted many high-profile fans such as Beyoncé, Amal Clooney and Taylor Swift.
On song: Fashion house Stella McCartney has attracted many high-profile fans such as Taylor Swift (pictured wearing a Stella McCartney rugby top on a day out in New York)
In accounts filed to Companies House this week, bosses pointed to a renewed tie-up with Adidas – which sells the label’s hiking boots, trainers and jackets, retailing for hundreds of pounds.
Stella McCartney also ventured into selling a range of luxury skincare products this year – including a face serum that costs £110.
A new licence agreement with Simonetta, an Italian producer and distributor of luxury childrenswear, provided an extra £3million to its royalties income.