Ozwald Boateng has designs on the world
Tuesday 09 April 2013
The Savile Row designer and bespoke suit maker Ozwald Boateng reported a fall in profit while he is in the process of relaunching the business as a global fashion empire.
The flamboyant designer is planning to open stores in major cities globally and hired former Burberry and London 2012 brand specialist Jalil Rahman to join as head of commercial last year. Pre-tax profits fell 88 per cent from £333,722 in 2011 to £37,137 for the year to April last year, with turnover down from £2.87m to £2.62m.
Mr Rahman said the new plan in place will significantly improve its fortunes.
A new website was launched last month and later this year it will sell and ship products across the world, including to China and the Far East.
Mr Rahman said: “We are on the cusp of an internationally significant expansion.”
He added: “While I was at Burberry it was about Britishness, London 2012 was about humanity and now at Ozwald Boateng it is about masculinity. There is so much opportunity for the brand.”
The company raised cash and bank debt to finance the expansion in late 2011.
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 New theory could prove how life began and disprove God
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
This is what it's like to be dead, according to a guy who died for a bit
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...