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Stella McCartney raises £100m to refurbish her fashion business after three years of losses
Stella McCartney has raised nearly £100 million after three years of loss by issuing new shares in her company.
The label, run by the daughter of Beatles legend Paul McCartney, said last year its ability to survive depended on additional funds provided by shareholder Anin Star Holdings – partly owned by French fashion giant LVMH.
New documents seen by The Mail on Sunday reveal it has now issued shares worth £98 million.
Fundraising: Stella McCartney, right, and her fashion label’s spring collection
It tracks serious losses for the years 2018 to 2020, amounting to more than £70 million.
Stella McCartney Ltd is controlled by Anin Star.
McCartney himself owns 51 percent of Anin Star and LVMH, which bought its stake in 2019, has 49 percent.
Since its inception in 2001, Stella McCartney Ltd has attracted many high profile fans such as Alicia Keys, Melania Trump, Beyoncé and Amal Clooney.
McCartney himself received £2.6 million in 2020 for running the business.
The new share offering could raise questions about whether she can maintain financial control over her debt-ridden company over the long term, although it is clear that she retains control at this point.
Stella McCartney Ltd and LVMH declined to comment.