Stella McCartney’s fashion house slashed its losses last year as it pushed ahead with a turnaround. 

The label, run by the daughter of Beatles legend Paul McCartney, said losses shrank to £10million in 2022 – compared with £32.7million in 2021. 

Sales increased 23 per cent to £40million, up from £32.5million the previous year, as the firm continued a turnaround scheme it started in 2020. 

A revival plan was launched after it clocked up dismal losses topping £70million over the years 2018 to 2020. 

Launched in 2001, the brand has attracted many high-profile fans such as Beyoncé, Amal Clooney and Taylor Swift. 

On song: Fashion house Stella McCartney has attracted many high-profile fans such as Taylor Swift (pictured wearing a Stella McCartney rugby top on a day out in New York)

On song: Fashion house Stella McCartney has attracted many high-profile fans such as Taylor Swift (pictured wearing a Stella McCartney rugby top on a day out in New York)

On song: Fashion house Stella McCartney has attracted many high-profile fans such as Taylor Swift (pictured wearing a Stella McCartney rugby top on a day out in New York)

In accounts filed to Companies House this week, bosses pointed to a renewed tie-up with Adidas – which sells the label’s hiking boots, trainers and jackets, retailing for hundreds of pounds. 

Stella McCartney also ventured into selling a range of luxury skincare products this year – including a face serum that costs £110. 

A new licence agreement with Simonetta, an Italian producer and distributor of luxury childrenswear, provided an extra £3million to its royalties income. 

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This post first appeared on Dailymail.co.uk

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