Kering : British fashion giant falls to £11m loss as expenses mount

BRITISH fashion label Stella McCartney swung to an £11m pre-tax loss in 2018 as the fashion house's costs skyrocketed.

Expenses incurred by owner Stella McCartney's decision to buy out luxury giant Kering's 50 per cent stake in her company, along with flat-lining sales at £42.6m pushed the brand into the red.

Stella McCartney's annual financial report, filed on Companies House last week, identified a 67 per cent increase in administrative expenses from £29m in 2017 to £49m.

The disappointing results come a year after the label recorded a profit of £9.1m.

(c) 2020 City A.M., source Newspaper