Alexander McQueen announces profitability

17 Mar '08

2 min read

Alexander McQueen has achieved profitability, successfully meeting the financial target set out by parent company Gucci Group in 2004. In that time the luxury brand and its portfolio have developed substantially boasting a well balanced mix of sales in women's, men's, accessories and licensing.

In this short period the business has grown three fold with a presence in all key multi brand department stores worldwide as well as stand alone stores in London, New York and Milan. Recent openings include Moscow and Las Vegas.

The successful retail expansion continues in the US with an opening in Los Angeles scheduled for April 2008. The 3,100sq foot store will be located on the corner of Melrose Avenue and Melrose Place and will follow the strong aesthetic of existing stores in London, New York and Milan.

Future plans for retail expansion are heavily focused in the Middle East with franchise stores planned for Beirut, India, Jeddah and Bahrain over the next three months and Qatar, Kuwait and Dubai planned for the latter half of the year.

Accessories reflect a key area of growth, currently accounting for 30% of total sales. The ELVIE (launched a/w 2007) and the Flapper (launched s/s2008) fast became 'must have bags' and 'bags of the season' amongst the international style press and buyers.

McQ (launched 2006) continues to show impressive growth with distribution in all major markets globally with franchise openings planned in the near future in Asia and Europe.

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