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Loss-making John Smedley endures difficult year but offers hope for future results

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October 13, 2025

John Smedley’s newly-filed results for the 12 months to the end of March show the company dealing with “a particularly difficult year”.

John Smedley

What that meant in numbers was that sales in the 2024/25 year were down 5.23% having dipped just 0.52% in 2023/24. And gross profit was down 7% having fallen 9.7% in the previous year.

Looking at the figures in more detail, turnover dropped to £16.8 million from £17.7 million with gross profit down to £7.7 million from just under £8.3 million.

The company made an operating loss of £1.175 million compared to a loss on that basis of £71,000 in the previous year. And the loss before tax was £720,000, worse than the profit of £270,000 the year before. The net loss was £495,000, a negative swing from a profit of £134,000 in the prior year.

Clearly, the company’s assessment of the period as being difficult wasn’t an exaggeration. It said the long-tail effect of a period of high inflation and peaking interest rates in several of its most valuable markets cause consumers to prioritise necessary spend over discretionary spend, with a knock-on effect on its wholesale business.

A much weaker Japanese yen also forced additional price increases in that important export market, which weakened distributor buying power and led to a decline in the forward order book across both seasons.

And it also blamed the UK government’s Budget last autumn that hit sentiment very hard with the very significant increases that were announced for employers’ National Insurance, as well as the National Living Wage and business rates. The increases here came in as of this April and will likely impact the current trading year, although as we can see below it has taken actions to improve its results for this year.

The company said it has responded to these challenges by increasing its prices, which it hadn’t done for the previous three seasons. It has also restructured the business with redundancies, reduced the size of the range to cut stock risk and paused investments. As a result, for the future it’s planning for a profitable and cash-generative business.

John Smedley has also completed its project to replace its Wash & Dye house based on its Lea Mills site. This uses the best equipment currently available and significantly reduces its energy usage.

It has also been launching interesting collabs such as the one unveiled only last week with actor Bill Nighy.

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Six Stories is expanding at pace so looks for major hires

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December 16, 2025

UK fast-growing bridal and occasionwear brand Six Stories is on a major recruitment drive in order to support its “next phase of scale” backed by a “significant investment in senior talent”. 

Six Stories

After three consecutive years of “exceptional commercial performance and continued demand across its core categories”, the hiring drive includes newly-created roles such as head of Trade, head of Brand, Social Media manager, CRM manager and Paid Media manager.

Founder Lucy Menghini said the decision “reflects both the momentum behind the brand and the strategic foundations required for the business to accelerate further.”

She added: “Over the past three years our growth has exceeded every expectation, and it’s now essential that we build a senior team that can support the scale we’re heading into.”

She noted that its lofty 2026 strategy is about “elevating every part of the business, strengthening our brand, deepening our customer relationships, expanding internationally and continuing to lead in occasionwear.

“To do that, we need experts in place who can help us evolve while staying true to what makes Six Stories special. Investing in the right people ensures we’re building a lifestyle brand with longevity, ambition and real creative impact.”

The brand’s expansion follows a period of “rapid and sustained momentum”, recording 110% annual sales growth over each of the last three years. Meanwhile, the brand’s signature occasionwear has seen sales jump 250% in the past two years, while the bridesmaid category also grew 120% in the same period. 

The compamy says it sold eight dresses a second during Black Friday. 

And with 25% of sales already coming from the US, “international expansion will be a major focus for 2026”.

The retailer said demand for bridesmaid dresses and occasionwear in the US has “skyrocketed”, with sales up 391% year-on-year, prompting Six Stories to plan a series of “brand activations, partnerships, and targeted campaigns across key markets to leverage this strong customer base”.

Menghini added: “As we grow, our vision extends beyond individual collections. We want to continue leading in the bridal space and set a new vision for the women of 2026, creating a lifestyle destination that celebrates them. I believe 2026 will be our most transformative year yet.”

That will come as the brand unveils new collections, explores collaborations “with leading creatives, talent and household brands”, while broadening into new product categories and investing in initiatives that “personalise the customer journey, strengthening its reach and impact internationally”.

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Louis Vuitton Watch Prize for Independent Creatives announces finalists and jury members for 2025-26 edition

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December 16, 2025

On December 16, Louis Vuitton unveiled its five finalists and five final jury members for the second edition of the Louis Vuitton Watch Prize for Independent Creatives, to be awarded at an exclusive celebration ceremony on March 24, 2026.

The five finalists for the Louis Vuitton Watch Prize for Independent Creatives – Louis Vuitton

 
Watch Prize finalist Daizoh Makihara of Daizoh Makihara Watchcraft Japan’s ‘Beauties of Nature’ wristwatch entry incorporates the delicate, traditional Japanese cut-glass technique ‘Edo Kiriko’ into watchmaking in a world first and his botanical design features an automatic petal mechanism, perpetual moon phase, and 25-jewel movement running at 18,000 vibrations per hour. Independent watchmaker Xinyan Dai of Fam Al Hut’s mechanical, manual-wind wristwatch named ‘Möbius’ presents the most compact bi-axis tourbillon conceived to date, blending tradition and future-facing innovation with over 200 hours of handcraftsmanship.
 
Victor Monnin and Alexandre Hazemann of Hazemann & Monnin’s ‘School Watch’ entry celebrates the Morteau school of watchmaking with a fully in-house made HM01 calibre, synchronising complex mechanics and precise poetry. Bernhard Lederer of Lederer’s wristwatch ‘CIC 39 mm Racing Green’ presents the first fully functional dual detent escapement in a wristwatch, highlighted by a transparent case back and sanded, matte dial.

Quiet Club’s Norifumi Seki has entered ‘Fading Hours,’ designed to innovate “new mechanics that respond to everyday needs,” according to the watchmaker. Created almost entirely in-house, the watch has a first-of-its-kind alarm with a vertically mounted hammer and minimalist, concealed elements.

'Beauties of Nature' by Daizoh Makihara
‘Beauties of Nature’ by Daizoh Makihara – Louis Vuitton

 
“Since the launch of the Louis Vuitton Watch Prize, our admiration for the dynamism of independent watchmaking has continued to grow,” said Louis Vuitton’s watch director Jean Arnault in a release. “These artisans create truly audacious timepieces, uniting extraordinary technical mastery with the boldness to challenge convention, and in doing so, they push the very boundaries of what is possible. As we celebrate this year’s finalists, I also want to thank the entire watchmaking community for the enthusiasm and support behind this initiative. I would also like to extend my gratitude to the members of the expert committee.”
 
After receiving submissions from around the world, Louis Vuitton’s five finalists were chosen from a group of 20 semi-finalists, whose work was evaluated by a Committee of Experts. The 65 watch enthusiasts, industry representatives, and global collectors measured the candidates’ timepieces against the principles of design, creativity, innovation, craftsmanship, and technical complexity to discern the five top entries.

Möbius by Xinyan Dai
Möbius by Xinyan Dai – Louis Vuitton

 
Carole Forestier-Kasapi, haute horlogerie and movements strategy director at Tag Heuer will take up the role of president of the Watch Prize’s jury after being nominated by the Committee of Experts. The jury also welcomes journalist Frank Geelen, founder and editor-in-chief of Monochrome Watches; Matthieu Hegi, La Fabrique du temps Louis Vuitton artistic director; watch enthusiast François-Xavier Overstake, founder and editor of Equation du Temps; and Kari Voutilainen, master watchmaker and owner of the Voutilainen workshops.
 
The winner of the Louis Vuitton Watch Prize for Independent Creatives will receive 150,000 euros and a one-year specially tailored mentorship by experts from La Fabrique du Temps and Louis Vuitton. “The future looks promising, and we’re excited to see what’s next,” said Jean Arnault.
 

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John Galliano’s former lawyer convicted on appeal of embezzling the designer’s funds

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December 16, 2025

John Galliano‘s former lawyer was given a two-year suspended prison sentence on appeal on Tuesday, identical to the term imposed at first instance, for misappropriating funds from the designer’s bank accounts and those of one of his companies.

John Galliano – DR

The Paris Court of Appeal upheld the June 2023 judgment of the criminal court, which had found Stéphane Zerbib guilty of breach of trust totalling 856,500 euros between 2008 and 2011, and of the use of forged documents.

John Galliano lodged a complaint in April 2011 against his former lawyer, accusing him of misappropriating around three million euros by withdrawing cash or making bank transfers without his knowledge.

The designer had just been dismissed by the House of Dior after hurling antisemitic insults at patrons in a Paris bar in February 2011, and was undergoing treatment for his “addictions” at a rehabilitation clinic in Arizona.

At the hearing, Stéphane Zerbib denied any fraudulent withdrawals from the accounts of his former client and from one of his companies, Cheyenne Freedom.

The Court of Appeal also upheld a one-year suspended prison sentence for Stéphane Zerbib’s wife, Danielle Nahon, a legal adviser who also advised John Galliano at the time, for breach of trust, use of forged documents and unlawfully holding herself out as a lawyer.

The lawyer and his wife were ordered to jointly pay John Galliano 145,000 euros in material damages and 5,000 euros in moral damages, as well as 606,605 euros to the company Cheyenne Freedom.

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