Vivienne Westwood, the British fashion brand, has announced a significant increase in its turnover for the fiscal year ending 31st December 2023, according to a report.
The recorded revenue surged 31.5 per cent to US $ 169.16 million, driven by strong performance in wholesale and retail channels. The fashion brand has also registered a 25.8 percent rise in its gross profit during the year with high cost of sales.
While gross profit rose, margins were impacted by increased costs. The company attributed this to rising inflation and global economic factors.
Looking ahead, Vivienne Westwood plans to strengthen its presence in key markets, including China and the United States, while also increasing its market share in Europe, specifically in France, Italy and Germany. The brand is focusing on streamlining its product portfolio and enhancing its e-commerce platform to improve efficiency and profitability.
Sustainability remains a core focus for the brand. In 2023, 83 per cent of the cotton used in production was organic, demonstrating the company’s commitment to environmentally conscious practices.
