Paul Smith saw profits jump 22% to £15 million for the year ended June 2008.
Sales rose by almost 15% to £150 million over the year. UK sales made up £55.7m of total sales while European sales were £44.2m and the rest of the world £49.8m.
“Both menswear and womenswear sales have continued to benefit from good sell-through and strong prior season deliveries.” Sir Paul Smith
Sales partly benefited from new store openings in Leeds and in Heathrow’s Terminal 5.
Sir Paul Smith took home a salary of £3.9m over the year, up from £3.6m the previous year. Smith also shared a £627,000 dividend with his Japanese business partner, who took a stake in the company in 2006.
In a statement in the accounts filed at Companies House, Sir Paul Smith said: “Both menswear and womenswear sales have continued to benefit from good sell-through and strong prior season deliveries. The group continues to grow wholesale sales across all collections and all major markets.”
Is this just a coincidence or are numbers just 22%?
I just saw an article saying that Prada's sales drop 22% and that 22% went to Paul Smith?
I guess 22 is the magic number in the fashion industry!
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Paul Smith see their profits rise
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