Stella McCartney is closing her flagship London store on Old Bond Street after reporting significant financial troubles, with losses reaching £25 million. Opened in 2018, the store featured opulent design elements, like a pink faux fur-lined elevator, but the brand has struggled, failing to turn a profit since 2017. The company's turnover saw a steep decline from £40 million in 2022 to £22 million in 2023. This move follows Stella's recent repurchase of a stake from luxury firm LVMH, reflecting a strategic adjustment amidst a slowdown in the luxury market.
Stella McCartney's flagship store in London is set to close after extensive financial losses, amid reports of annual losses amounting to £25 million.
The London store, an extravagant space with features like a pink faux fur-lined elevator, has failed to yield significant profits, continuously underperforming since 2017.
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