Revenue for the Irish subsidiary of luxury French fashion brand Saint Laurent fell by 34 per cent last year while its profit declined 23 per cent with the brand noting the sector saw “lower store footfall” amid “geopolitical uncertainty”.
Accounts just filed here by Saint Laurent Ireland Ltd show that it made a profit of €228,885 on revenue of €6.18 million for the 12 months to December 2024. This compared with a profit of €336,729 on income of €9.4 million for a 14-month period to the end of December 2023.
The brand, which also goes under the Yves Saint Laurent and YSL brands, is part of the Kering Group, which saw revenue of €17.2 billion in 2024, down 12 per cent against €19.6 billion the year prior.
In accounts filed with the Companies Registration Office, Saint Laurent’s directors said the brand faces the risk every year that its new collections “may be received less positively than anticipated”.
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The brand noted that macroeconomic conditions and geopolitical uncertainty affected “consumers’ real incomes and confidence levels” and that the market was impacted by “lower store footfall and lower sales volume” across the board which were not offset by increased prices.
One of the largest luxury fashion brands in the world, Saint Laurent opened a concession store in Brown Thomas’ Grafton Street store in July 2021 and recorded strong post-tax profit of €397,307 in its first, extended, financial period from revenue of €9.18 million.
Revenue continued to grow in a 14-month financial period ending in December 2023, reaching €9.4 million from retail and ecommerce sales, making slightly lower post-tax profit of €336,729 due to increased administrative expenses.
In its 2024 financial year, the fashion brand recorded weaker revenue of €6.18 million and post-tax profit of €228,885. Against the two-month longer financial period in 2023, the brand’s accounts show that administrative expenses reduced by nearly €1.2 million.
Its 11 employees, down from 13 in 2023, accounted for total staff costs of €434,878, against €601,815 the year prior.
The brand was part of Paris Fashion Week in June, featuring creations from Belgian designer Anthony Vaccarello for the fashion house. The collection was described by the show notes as “somewhere between Paris and Fire Island, where escape becomes elegance, and desire becomes a language”.
Saint Laurent was contacted for comment.
