Gallagher's Pretty Green brand posts profit for the first time
British singer Liam Gallagher's clothing brand Pretty Green, which was founded in 2009, posted a profit of £42,458 in the year to September 30, 2014.
According to reports, it's the first time Pretty Green has turned a profit. In the 2013 financial year the company had a loss of approximately £2m.
Pretty Green's revenues rose 38% to £15.1m in the 2014 period, up from circa £11m the year before. Operating profit rocketed to £145,000 from a loss of £1.95m in 2013. The company said growth was driven by the UK and internationally in Japan. The main drivers of profitability were strong like-for-like revenue from all channels, improved operational efficiencies and tight control of central overheads.
Pretty Green's director, A. Johnson, says the company expects the trend of improvements to continue in the next financial year, with like-for-like sales remaining strong and expansion opportunities identified in the UK and internationally.
Copyright © 2021 FashionNetwork.com All rights reserved.