Bag agency Longchamp sees pandemic hit Uk revenues

Bag firm Longchamp sees pandemic hit UK revenues

T

he pandemic has dented United kingdom revenue at upmarket bag maker Longchamp, not too long ago filed accounts show.

The British isles division of the non-public French accessories business had to short term near stores for chunks of 2020 owing to lockdowns. The retailer stated it shed some expert staff with distinct language techniques, which “severely impacted” the small business when branches could welcome again prospects.

Accounts filed this month exhibit turnover very last 12 months dropped 54.7% to £8.2 million. It recorded a £1 million pre-tax loss, in contrast with a £565,075 earnings a year earlier.

Longchamp has a few standalone branches in the British isles, and is stocked by office shop corporations such as Harrods and John Lewis.

The firm’s strategic report reported: “Covid-19 has negatively impacted 2020 figures but not influenced continuity of operations. Management actions have been executed to reduce Covid financial impact.”

It extra that a 5 calendar year business prepare has been well prepared to recuperate profitability at the most current in 2023.

The report by Longchamp (British isles) said: “We be expecting 2021 to be in the exact route as 2020 and count on 2022 to get back total business enterprise exercise.”

The enterprise could not be achieved for comment now.