367
Fashion Jobs
SHISEIDO
FP&A Manager (Korean Only)
Permanent · SEOUL
AESOP
Aesop Hanam Starfield - Retail Consultant
Permanent · HANAM-SI
ADIDAS
Senior Specialist, Buying & Trading, E-Commerce
Permanent · SEOUL
ADIDAS
Manager, Personalization & Apps, E-Commerce
Permanent · SEOUL
ADIDAS
Senior Manager, Legal Counsel, Legal
Permanent · SEOUL
HENKEL
Finance Business Controller For Shiseido Professional Brand
Permanent ·
L'OREAL GROUP
[l'Oreal Korea] Kiehl's - CRM & Trade Mkt sr. Specialist~Manager
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (jr.) Claim Substantiation Specialist - Corporate Regulatory Affairs
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (sr.) Product Manager - Kerastase Marketing Team, Ppd
Permanent · SEOUL
UNDER ARMOUR
Associate, HR Administration
Permanent · SEOUL
ARKET
Visual Merchandising Manager
Permanent · BUSAN
PUIG
Marketing Manager
Permanent · SEOUL
JAEGER
[Jaeger Lecoultre] Marketing & Communication Director
Permanent · SEOUL
ESTÉE LAUDER COMPANIES
Corporate Account Executive For Travel Retail Korea, Estee Lauder Companies
Permanent ·
ESTÉE LAUDER - BRAND
Assistant Education Manager, Estee Lauder
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] Luxe Div. - Lancome E-Commerce Specialist
Permanent · SEOUL
COS
Instore Visual Merchandiser Manager_seoul/Gyeonggi
Permanent · SEOUL METROPOLITAN AREA
AESOP
Shinsegae Gwangju - Retail Consultant
Permanent · GWANGJU
COACH
Manager, Ecommerce
Permanent · SEOUL
ADIDAS
Manager, Business Planning & Analysis, Wholesales
Permanent · SEOUL
HENKEL
Adhesive Key Account Manager For Sports And Fashion Market
Permanent · BUSAN
HENKEL
Consumer Brands General Manager Assistant
Permanent ·
Published
Nov 4, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Vivienne Westwood fares well in Covid year as e-tail booms

Published
Nov 4, 2021

Vivienne Westwood is the latest UK company to file its 2020 results at Companies House and one of the few not to be completely devastated by the impact of the pandemic.


Vivienne Westwood - Spring-Summer2020 - Womenswear - Paris - © PixelFormula



In fact, it said that while 2020 was an unprecedented year, its turnover fell by only 9% to £42.13 million. And its gross profit was down by only 10.35% at £22.32 million, while cash flow from operations was considerably higher.

Pre-tax profit actually managed to rise to £3.9 million from £2.7 million and net profit was £2.88 million, up from £1.83 million.

Not that the pandemic left it unaffected as sales to its physical shops dropped 46.61% compared to 2019, caused mainly by lockdown measures and travel restrictions. 

But on the upside, the pandemic accelerated existing trends and the company saw its online sales growing by a massive 111%. Thanks to this huge growth online, overall retail sales sales only dropped by 3.52% year-on-year. 

And wholesale was almost flat – at least, it was down 1.04% compared to 2019, which was a good result in the circumstances. 

The company also managed to reduce its cost of sales by 7.42%, achieving a gross margin of 53%, which was only slightly down from the 53.8% of 2019. 

But the company said margins are still under pressure due to the nature of wider retail conditions and it has been focusing on reducing this pressure by reviewing its pricing.

The firm didn't give an update about trading since the pandemic year but it did say that it continues to remain attractive to its wide customer base and sales "continue to be consistent". Its focus remains on improving its existing stores and clarifying the positioning of its brand by focusing its offer and streamlining its portfolio.

It still harbours “major ambitions” to establish a better presence in key markets such as China and the US, as well as increasing its market share in Europe (in particular France, Italy and Germany) and Asia.

It's also undergoing a strategic review to create a new operating structure that would allow it to optimise processes and its overall efficiency.

Copyright © 2024 FashionNetwork.com All rights reserved.