Newspaper article The Evening Standard (London, England)

The McCartney Making Millions - Only This Time Round It's Stella

Newspaper article The Evening Standard (London, England)

The McCartney Making Millions - Only This Time Round It's Stella

Article excerpt

Byline: ALEXA BARACAIA

HER father is worth [pounds sterling]825 million but has famously insisted his children find their own way in the world without his help.

So Sir Paul McCartney's designer daughter Stella is doing just that.

Five years after she set up her ownname fashion label, she can boast [pounds sterling]23million in worldwide sales and a UK turnover of [pounds sterling]7.3 million, double what it was a year ago.

The latest accounts for Stella McCartney Ltd show the business is close to making a profit for the first time. Next week, the designer will show her ninth collection under her own name on the Paris catwalk, 11 years after she graduated.

McCartney, 35, is married to Alisdhair Willis, a publisher. She is seven months pregnant with their second child - the couple have an 18-month-old son called Miller.

She now has an empire that includes stores in Mayfair, New York and Los Angeles selling high-end jewellery, eyewear, accessories and a fragrance. She also has a collection for adidas, a one-off hit line for H&M and, announced this week, a Stella-designed credit card for Coutts bank. The business, which employs 30 people with staff costs of [pounds sterling]2.02 million, "will reach its target of profitability" by next year, say the directors. McCartney's success will come as a huge relief to the Gucci group, which has bankrolled the business without yet reaping a penny in dividends.

One fashion insider said: "Gucci have been patient. She needed someone with deep pockets to get started and they are in it for the long term. From around now they'll be looking to break even and then make that profit.

"They've been guiding her towards more commercially viable stuff and it's paying off. Adidas has been really successful and she's expanding to ski wear this season, while H&M will have earned her a big cash lump sum.

"Stella has also upped her range of accessories and she can make more money on the back of that. Then there's the perfume - and she won't use leather so her shoes and things are vegetarian and people want to buy into all of that.

In the scheme of things, it's all working for her. …

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