- Prachi Singh |
For the period to March 26, 2017, Lulu Guinness revealed in its accounts filed with the Companies House UK that the sales reached 9.5 million pounds (12.8 million dollars) against 9.1 million pounds (12 million dollars) in the earlier fiscal year. However the company added that due to significant investment, restructuring costs and amortisation charges during the year the company recorded loss before tax for the year of 460,549 pounds compared to 89,678 pounds in the year before.
Gross profit for the year was flat at 4.2 million pounds (5.6 million dollars). According to the Evening Standard, sales between December 18 and January 2, 2018, sales increased by 25 percent.
Founded in 1989 when Lulu Guinness was 29, the Highgate-based luxury label having 18 stores, said that it is now focusing on its online offering and its updated ecommerce platform is expected go live in the next 18 months. During the year, the group also located to a new third party warehouse in the UK.
Picture:Facebook/Lulu Guinness Official