Business

Profits surge threefold to €1.7m for designer Louise Kennedy after Covid

Weddings, international travel and special occasion events deferred during pandemic boosted business in 2022

Designer Louise Kennedy: Profits jumped sharply as business returned to normal in the wake of Covid. Photograph Nick Bradshaw

Gordon Deegan
Sat Jan 6 2024 - 05:00

The luxury lifestyle fashion brand business owned by Louise Kennedy, one of Ireland’s best-known designers, enjoyed “a post-Covid bounce” in 2022 as profits after tax jumped almost threefold to €1.73 million.

Commenting on the 2022 performance on Friday, Ms Kennedy said: “Our 2022 numbers reflect the post-Covid bounce due to deferred weddings, international travel and special occasion events being a positive contributor to the business.”

The Louise Kennedy brand celebrated 40 years in business in 2023 and Ms Kennedy added: “2023 was a good year with a steady performance in all markets and saw good growth in export sales.”

The retailer operates flagship outlets at Merrion Square in Dublin and Belgravia in London, and also generates sales from Louise Kennedy at Kildare Village and at Brown Thomas on Dublin’s Grafton Street.

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Accounts recently filed by Ms Kennedy’s Signum Ltd show that

its cash funds increased to €3.53 million from €2.86 million in 2021. The business had accumulated profits of €5.25 million at the end of 2022.

[ The luxury Irish design destination that celebrates Irish textiles ]

[ Kildare Village wins right to sell some items at full price ]

The business employs 16 people, 13 of them based in Ireland with the other three in the UK.

The amount owed to the company by debtors increased from €779,366 to €1.14 million. Underlining the firm’s buoyant year, the amount owed in corporation tax increased from €77,207 to €163,245.

The Louise Kennedy brand was first established in 1983 and has counted Kylie Minogue and Beyoncé as customers.

Louise Kennedy has designed for former Irish presidents Mary Robinson and Mary McAleese, as well as for members of British, European and Middle Eastern royal families, for high-profile businesswomen and actresses including Meryl Streep and Anjelica Huston.

Gordon Deegan

Gordon Deegan

Gordon Deegan is a contributor to The Irish Times

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