McCartney In Fashion Crisis

Rock daughter STELLA McCARTNEY's fashion company is in crisis - her label slipped into the red yesterday (08DEC03) after posting losses of $7.2 million (GBP4.5 million).

Her self-entitled firm, which has the backing of fashion giants GUCCI, reported sales worth $695,360 (GBP434,600) in the year ending 31 January (03) - but the company's operating loss was up 67 per cent on its first-year figures.

Although Gucci paid Stella - daughter of BEATLES legend SIR PAUL McCARTNEY - $9.6 million (GBP6 million) for its majority stake in the company in 2001, as well as two multi-million cash injections since, bosses aren't concerned about the designer's losses.

Board members including Gucci chief executive DOMENICO DE SOLE say sales returns and losses were "in line with directors' expectations based on an agreed business plan".

09/12/2003 02:23

Contactmusic

Tags: Stella Mccartney - Beatles - Sir Paul McCartney


Advertisement

Editors Recommendations

Zach Braff Reignites The Shins Connection for 'Wish I Was Here'

By the time you finish reading this article you will be enlightened. You...

Zach Braff Reignites The Shins Connection for 'Wish I Was Here'

Bruce Springsteen Stars & Makes His Directional Debut In 'Hunter Of Invisible Game'

Bruce Springsteen has made his directional debut with a 10:15 minute short...

Bruce Springsteen Stars & Makes His Directional Debut In 'Hunter Of Invisible Game'

Will He Or Won't He? Garth Brooks Vows To Reach Out To Irish Prime Minister About Cancelled Gigs

It turns out when Garth Brooks said he would perform “all or none” of...

Will He Or Won't He? Garth Brooks Vows To Reach Out To Irish Prime Minister About Cancelled Gigs

HOW TO TRAIN YOUR DRAGON 2 ups the ante

Back in early 2010 when the first How to Train Your Dragon was released, cinemas were...

HOW TO TRAIN YOUR DRAGON 2 ups the ante

George Clooney Rejects Daily Mail Apology Over Claims Regarding Fiancee's Mother

George Clooney has been left reeling in fury in a spat with The Daily...

George Clooney Rejects Daily Mail Apology Over Claims Regarding Fiancee's Mother
Advertisement

Flashback Friday: Major Labels In Talks For Shares In SoundCloud In Exchange For Copyright Waivers

Berlin-based streaming service SoundCloud is about to reach a deal...

Flashback Friday: Major Labels In Talks For Shares In SoundCloud In Exchange For Copyright Waivers

Paul McCartney: Just One in a Long List of Celebs Who Love a Good Proposal

Paul McCartney made two fans’ dreams come true at a recent concert...

Paul McCartney: Just One in a Long List of Celebs Who Love a Good Proposal


More recommendations

Advertisement

Comments

Stella Mccartney Newsletter

Subscribe to this news alert service to receive news and reviews on Stella Mccartney

Unsubscribe | Unsubscribe All