Stagecoach tycoon Sir Brian Souter’s luxury perfumes and furniture firm Clive Christian has sunk deeper into the red, but its boss on Friday said investments into the business are paying off.
Accounts just filed show Clive Christian Holdings, whose majority shareholder is entrepreneur Sir Brian’s private company Souter Investments, recorded a pre-tax loss of £4.4 million in 2017, widening from a £2.6 million loss a year earlier.
It invested heavily during the period, launching fragrances including the £525-a-bottle Addictive Arts collection, as well as funding international expansion.
The firm also spent money on getting a new furniture design studio in Mayfair’s Brook Street ready for its May 2018 opening.
Sales jumped 20% to £14 million during the year, and Clive Christian’s chief executive Amy Nelson-Bennett was positive about future growth.
She said 2018 so far has seen double digit sales rises in the fragrances division, and furniture is also doing well.
Nelson-Bennett added: “We believe we have significant potential for ongoing growth as the global appetite for independent luxury houses expands.”
