Stella McCartney's zesty designs bear fruit and bring £2m pay bonanza

http://www.thisislondon.co.uk/standard/article-23886138-stella-mccartneys-zesty-designs-bear-fruit-and-bring-pound-2m-pay-bonanza.do

Stella McCartney's zesty designs bear fruit and bring £2m pay bonanza


Rosamund Urwin

08.10.10


Stella McCartney has awarded herself a record £2 million pay package after her fashion label's sales and profits boomed during the recession.

The designer earned £1.9 million in 2009, up almost a third, in a year that saw profits at the UK arm of her business rise 15 per cent to £2.1 million.

On Monday she unveiled her latest collection at Paris Fashion Week, which featured giant citrus prints. The show was well received. Enthusiastic demand for her vegan "it-bag", the Falabella, helped push sales up from £13.5 million to £14.6 million, accounts reveal. Stars including Rihanna, Jennifer Lopez and Leona Lewis have been seen carrying the tote.
McCartney, 39, has become one of fashion's most bankable names. Her label is owned jointly by Gucci after she sold a 50 per cent share for £6 million in 2001. It made losses until 2006 but has been in profit ever since. Frederick Lukoff, chief executive and president of Stella McCartney Ltd, told Women's Wear Daily the designs were "very grounded ... the style is applicable to the reality of [customers'] lives, and that's meant that even in a very difficult year for the industry as a whole, we've actually had a great year".

Sales are expected to get a boost from her move into the lucrative childrenswear market next month, following the success of her collections for Gap Kids. The label is set to launch an online store later this month. McCartney is designing Team GB's uniform for the 2012 Olympics.

The 2009 figures, from accounts filed at Companies House, include sales at its shop in Bruton Street, Mayfair, but not revenue from wholesale operations or stores in the US, France or Italy.