Luxury accessories firm Aspinal of London has bagged sales growth but saw losses deepen last year after big investments, new accounts showed on Tuesday.
The handbags maker splashed out on a new flagship store on Regent Street St James’s and opened a new branch at London City Airport in the year to March 2018.
It also spent money to improve its online offering.
The retailer, advertised by model David Gandy, grew sales 7% to £31.4 million but saw pre-tax losses of £3.2 million, more than double the previous year.
On Brexit, the firm’s accounts said the possible impacts that could hit Aspinal of London are linked to consumer confidence and changes to duty that could impact importing and exporting.
Chairman Iain Burton, the ultimate owner, said current trading in the UK is “excellent”.
Serial entrepreneur Burton set up Aspinal of London in 2001. Fans of the label include the Duchess of Cambridge.
