Roland Mouret is synonymous with luxury fashion. His acclaimed 2005 Galaxy dress was an instant global hit amongst celebrities and your average Joanne’s alike. Kim Kardashian, Cameron Diaz, Rachael Weisz, and Sofia Vergara have all been seen in the frock. The dress is still available to this day. In his web bio he reflects:
“The Galaxy; it’s a bit like having your first Number 1 chart hit. You are defined by it.”
In the same year, due to ‘managerial differences’, he split with his brand, an event that left the world of luxury fashion in a state of shock. Worse still, he lost the IP rights to his brand name. Mouret admitted:
“I was not broken. I called my father to tell him, ‘I lost your name. I promise you I will buy it back.’ Then I discovered my signature was on the outside.”
Luck was on Mouret’s side as Natalie Swanston had been a client. In 2006, she persuaded her husband, British entrepreneur, Simon Fuller of The Spice Girls and American Idol fame, to invest in the designer. Fuller has also invested in the loss-making Victoria Beckham brand. The Beckhams bought back Fuller’s 33% share of Beckham Brand Holdings, an umbrella company for Victoria Beckham, for £38 million in 2019. Fuller, however, still retains shares in the Victoria Beckham brand. He has managed Amy Winehouse, Annie Lenox and partnered with Jennifer Lopez and Marc Anthony in 2011 for the short-lived TV series “Q’Viva! The Chosen.”
Here is an artist’s impression of Simon Fuller.
Five years after Roland Mouret ’s launch, a lavish flagship store opened in Mayfair, London in 2011. Hot on its heels, one opened on Madison Avenue, New York City, three years later. In 2016, the American endeavour relocated to larger townhouse premises, also on Madison Avenue.
But were things for Roland Mouret as good on paper in contrast to the public perception of his label? Put simply, they weren’t and here are some financial stats that speak for themselves:
- In 2014 turnover was £13.3 million with pre-tax losses of £0.7 million
- In 2015 turnover was £16.1 million with pre-tax loss of £0.5 million
- In 2016 turnover was £18.8 million with pre-tax profits of £1.1 million
- In 2017 turnover grew to £19.6 million but pre-tax profits fell to £0.4 million
The sad story doesn’t end there. In November 2018, the New York flagship was shuttered, despite the USA being the largest market, with a 35% share of turnover. In 2018 revenue plummeted to £16.7 million with a pre-tax loss of £3.4 million. A loss of this magnitude no doubt effectively wiped out all the previous profits since 2006. Not good. It is also likely that the London flagship is yet to turn a profit.
Mouret’s response to this ill-fortune? In an interview with Vogue in October 2019, he admitted to some brand restructuring:
“We calculated the overflow, analysed the spec sheets, reduced it down. It’s what we all did in the ’90s when we had nothing!”
But fortune remains on Mouret’s side. It appears that the designer still pockets an annual salary of £350,000.
