Your Money

'My Mercedes is actually going up in value'

ME MY MONEY: LOUISE KENNEDY Designer

Mon May 03 2010 - 01:00

ME MY MONEY:LOUISE KENNEDY Designer

1. Are you a saver or spender?

More saver than spender. When you are building your own business, any surplus seems to always get ploughed back into the business; there is always an investment required of some sort.

2. Do you shop around for better value?

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Since the downturn in the economy I have found many companies offering more competitive business rates, and we made certain changes in 2009 which proved very cost effective to our bottom line.

3. What has been your most extravagant purchase ever and how much did it cost?

My most extravagant purchase was a Mercedes SL, which I bought in 1999. As this particular model is now a classic, the value has started to rise again! The purchase proved an excellent investment because last year Mercedes MSL asked me to be its style envoy for its fabulous new E Class Coupe.

4. What purchase have you made that you consider the best value for money?

Selling my home in Sandymount and buying a property on Merrion Square in the mid-1990s. The Merrion Square property has been synonymous with the brand, and has proven to be an excellent retail location.

5. Have you ever crossed the border to shop?

No, I am a great believer in keeping jobs in the Republic and the importance of spending my money here. I think Irish people will shop locally if we re-focus on quality, customer service and value for money.

6. Do you haggle over prices?

I do not haggle in stores. But when I am negotiating in Italy on fabrics and manufacturing, naturally many discussions are had before sign-off!

7. Has the recession changed your spending habits?

Yes, I am more conscious in the current climate. I have always had a particular interest in investing in products that will stand the test of time through good design and craftsmanship. This ethos is central to the LK brand. I rarely buy on a whim.

8. Do you invest in shares?

Not to date, but I believe that if you do your homework it is probably a good time to buy.

9. Cash or card?

Always a card.

In conversation with Tony Clayton-Lea